Canada has proved to be a shining light for PointsBet, contrasting sharply with the declines reported in its Australian division.
Publishing its preliminary results for the nine-month period ending 31 March 2026, PointsBet reported revenues decline to $186.6m – a drop of 1% year-on-year.
Canada drives growth for Pointsbet
Of the total revenues, $34.6m was attributed to Canada, marking a 13% increase on the year prior. However, it was the growth of its iGaming operations in Canada, specifically Ontario, that stole the show for the operator.
During the trading period, PointsBet recorded a 28% year-on-year increase in iGaming revenue, rising to $23.6m, largely due to strong gross win margins across all game types – with slots proving to be particularly popular with players.
One of the driving factors for iGaming expansion, the operator noted, was the roll out of its upgraded iGaming platform during April of this year.
Now successfully migrated to Bede Gaming’s tech stack, PointsBet is confident that the “99.99% stability, immediate access to Games Global and Pragmatic Live Dealer content, and enhanced promotional capabilities across the business” will act as a catalyst for “further acceleration” in the second half of the calendar year.
Meanwhile the total Canadian Net Win rose 14% year-over-year – up from $30.4m to $34.7m.
The same growth reported in iGaming didn’t quite translate into PointsBet’s sports betting division, with a 39% decline in turnover to $161.5m for the period. This, PointsBet explained, could be due to lower VIP play and strong win margins, which subsequently had a knock-on effect on reinvestment.
Alberta: the next opportunity?
Like many sportsbooks and casinos, PointsBet is now starting to turn its attention to the opening of the Alberta iGaming market, which goes live on 13 July.
With only a few short weeks to go until the province allows operators to roll out their brands to bettors, PointsBet is among the 30 brands that has completed the registration process, having received the green light from the Alberta Gaming, Liquor and Cannabis Commission (AGLC) to advertise and pre-register players ahead of the province’s launch.
“Alberta’s move toward an open, competitive iGaming framework is a positive step for Canadian players, offering more choice and consumer protections in a safe and regulated environment,” said Scott Vanderwel, CEO of PointsBet Canada, at the time of receiving authorization from the AGLC.
“We’re excited to introduce our innovative, Canadian-focused sports betting and online casino products to Alberta residents, supported by industry-leading speed, responsible gaming tools, and local expertise.”
Its entry into Alberta would be the first major expansion for PointsBet after its entry into the Ontario market, potentially opening up the doors for new opportunities for growth.
Further Canadian expansion on the cards?
PointsBet’s acquisition by MIXI Australia was a story that dominated the headlines, following what felt like a long tug-of-war between the new owner and Betr as they grappled for ownership of the operator.
The offer from the Japanese company’s Australian subsidiary closed on 12 September 2025, with MIXI Australia holding 66.43% of PointsBet Holdings Ltd. shares.
While MIXI emerged victorious in the acquisition battle, the effects of the acquisition are still being felt at PointsBet.
One of the biggest ripples has been the opportunity for further expansion across Canada, with British Columbia previously tabled as a potential expansion opportunity,
Looking beyond Ontario, MIXI CEO and President Koki Kimura has previously hinted at the fact that the operator will be keeping very close watch over the legalization of online casino and sports betting in other Canadian provinces.
But for now, it looks like PointsBet will remain focused on its Ontario operations and new revenue streams in Alberta once the province goes live.
