Flutter global director of trading tech appointed as group CTO at PointsBet
Daniel Lucas will leave Flutter Entertainment to replace Jerry Bowskill as its new group chief technology officer while firm also details H1 2024 trading performance
PointsBet has confirmed the addition of Flutter trading exec Daniel Lucas as the operator’s new chief technology officer (CTO).
Lucas, who has served as Flutter’s global director of trading technology since April 2022, will begin his new role on 1 September.
Lucas joined the operator’s Sportsbet brand in 2013 as head of trading technology before being named head of data solution three years later.
The exec was appointed global trading platforms lead for Sportsbet in May 2019 before eventually stepping up to the parent company role two years on.
He is set to replace outgoing CTO Jerry Bowskill who has chosen to step down following the sale of PointsBet’s US business to Fanatics.
Lucas will be based in Melbourne as part of his new role with PointsBet.
On the appointment, PointsBet CEO Sam Swanell said: “We are very pleased that a senior executive of Dan’s quality and experience is joining PointsBet.
“Dan’s understanding of complex platform and trading operations, in particular algorithmic trading, risk and advanced analytics together with his strong people leadership skills, are valuable assets to PointsBet’s Australian and Canadian operations,” he added.
Lucas added: “I am super excited about the opportunity to join a technology and product-led company like PointsBet. They continue to invest in their platforms and there are exciting growth opportunities ahead.”
Elsewhere, PointsBet has successfully reduced its net losses for H1 2024 by A$36.4mfollowing the divesture of its US business last year.
As detailed in a trading update for the six months to 31 December 2023, the ASX-listed firm noted fresh focus on Australia and Canada had led to revenue increasing in those markets.
Australian revenue landed at A$101.7m – 7% ahead of the A$95.3m recorded for the same period last year – with this strong growth coming in spite of an overall drop of 5% in turnover across the country in H1 2024.
Of equal significance, the results mark the first half-year financial period during which PointsBet was EBITDA positive in Australia.
EBITDA reached A$900,000 compared to the A$20.2m loss recorded in the previous year. According to the business, these vastly improved numbers have been driven in the main by strong betting activity across its core betting offering of NBA, NFL and football.
Over in Canada, meanwhile, PointsBet saw revenue rocket by 137.5% year-on-year to A$15.9m, with this figure being comprised of A$9.5m in total igaming revenue and A$6.3m in sports betting revenue.
The company also noted that it was on course to achieve breakeven EBITDA in Canada by the 2025 financial year, with H1 losses being reduced from A$19.4m to A$12m as a result of the recent upsurge.
Returning to matters in the US, FBG has begun phasing out the PointsBet brand across the country – with Iowa becoming the latest market to go just last week – but still remains active in a handful of states.
The company has now completed its online rebrand in 12 markets, while retail betting venues are currently active in Pennsylvania and West Virginia as FBG continues to streamline its operations.
Arnold Ash is EGR’s Executive Recruitment Partner. They support ambitious organisations to identify and attract industry leading executive talent. Find out more here.