Finance

PointsBet share price falls as US expansion costs lead to $32.7m loss

Australian operator’s share price dips 10.46% despite reporting triple-digit growth in full-year revenue

PointsBet’s share price fell 10.5% today after the Australian operator announced a full-year operating loss of AU$32.7m, largely due to increased investment to aid its expansion into the US sports betting market. The Melbourne-headquartered firm’s share price dropped to $2.91 on the back of the FY 2019 results, although its shares are still much higher than its…

Australia | Finance | PointsBet | Sam Swanell | Sports betting | Spread betting | US | US sports betting

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