PointsBet announced a $300 million (A$400 million) capital raise to continue its North American expansion during its fourth-quarter conference call Wednesday evening.
During the call, PointsBet CEO Sam Swanell laid out positives from the Australian company’s 2021 fiscal year. The company’s net revenue growth was 159%, up to $143.2 million, but expenses left the company with an $87.6 million operating loss. The earnings call did not include an analyst question-and-answer portion.
As the company continues to mature in Australia, Swanell pointed optimistically toward its US start, where its sports betting app is live in six states.
“In each state we’re live, we’re either the fourth or fifth operator in terms of handle,” Swanell said on the call.
