Finance

PointsBet share price falls as US expansion costs lead to $22m 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 (US$22m), largely due to increased investment to aid its expansion into the US sports betting market. The Melbourne-headquartered firm’s share price dropped to AU$2.91 (US$1.96) on the back of the FY19 results, although its shares are still much higher…

Australia | Finance | PointsBet | Sports betting

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