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PointsBet Holdings Limited (PBTHF) Q3 2023 Earnings Call Transcript

PointsBet Holdings Limited (OTCQX:PBTHF) Q3 2023 Results Conference Call April 27, 2023 8:00 PM ET

Company Participants

Sam Swanell – Group CEO

Andrew Mellor – Group CFO

Andrew Catterall – CEO, Australia

Conference Call Participants

Rohan Sundram – MST Financial

Don Carducci – JPMorgan

Chris Savage – Bell Potter

Bradley Beckett – Credit Suisse

Sam Swanell

Good morning, and thank you all for joining the PointsBet Holdings Limited Q3 FY ’23 business update. I’m Sam Swanell, and joining me on the call today are Group CFO, Andrew Mellor; Johnny Aitken, Andrew Catterall, and Scott Vanderwel. Before we begin, please note the safe harbor statement. All the numbers referred to are unaudited and in Australian dollars, unless otherwise stated. For the last few periods, I’ve spoken to our focus on net win growth for the group as a whole and for North America in particular.

We’ve been delivering strong growth for a number of quarters now, while at the same time spending less on marketing via greater efficiency. It’s clearly strong momentum continues in our North American business and the Australian business is outperforming the market in an industry facing headwinds. Group net win growth was a company record for this quarter and continues to perform well versus PCPs. And together with our continued focus on reducing costs, improves the global business performance. I will make some comments on potential strategic transactions towards the end of this call.

Turning to Slide 4. Compared to the group results for Q3 FY ’22 to be referred to as the prior corresponding period, or PCP, in Q3 FY ’23, total group net win was up 39% and $106.6 million, a record for the group. The U.S. and Canadian divisions continued their strong trend of net win growth while we were pleased with our performance for Australia given the overall softness we saw early in the

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