The potential launch date forOntario sports betting The future of iGaming remains uncertain, yet PointsBet is fully prepared for what's next.
During a conference call regarding earnings on Thursday, CEO Sammy Swanell shared an ambitious vision for the company's future in Canada.
Having recently entered a long-term partnershipwith the Trailer Park Boys the company views Ontario as an ideal launchpad for its expansion into the Canadian sports betting and iGaming industry.
"We are eagerly anticipating the official launch date for Ontario, which we expect to be announced soon, and we are thrilled with our team's accomplishments so far,\" stated Swanell. \"Our commitment is to provide an authentic Canadian brand and experience. The partnerships we’ve formed with [Curling Canada, the NHL Alumni Association, and the Trailer Park Boys] are integral to this vision.\"
Strategic Partnerships are Crucial for PointsBet's Approach in Ontario
Swanell said thePointsBet Ontario An expanding array of collaborations is essential for enhancing market share in Ontario while also boosting operational efficiency.
"We have a strong belief in the effectiveness of these partnerships in enhancing our brand visibility and attracting new clients,\" remarked Swanell. \"As we roll out PointsBet’s Canadian offerings in Ontario, our Canadian team will utilize not just the innovative technology and leading products we've developed, but also the global resources from our unified team supported by personnel across various continents.\"
PointsBet has recently formed a collaboration withCurling Canada in October as well as the NHL Alumni Association this month.
When itannounced the deal with the NHLAA According to PointsBet, “we are focused on providing customers with a truly Canadian experience.”
PointsBet Big on iGaming
A key financial incentive for PointsBet lies in theOntario online casino potential that emerging markets like Ontario offer, as there is a larger audience interested in these services beyond just sports betting.
"The ongoing expansion of our iGaming offerings is going to be crucial,\" Swanell emphasized. \"The sports sector began its recovery after the COVID-19 pandemic in mid-2020, which required us to restart our operations. We expect that by the conclusion of the next fiscal year, we will be operating profitably.\"
The Australian firm highlighted in its presentation a survey indicating that North America, including its operations in Ontario, has a market potential of 70 billion U.S. dollars by 2033, with $18 billion projected from iGaming alone.
Swanell mentioned that they anticipate launching Ontario’s iGaming and sports betting services in the latter half of the 2022 fiscal year.
"iGaming's net revenue saw an increase of 145% compared to the previous quarter,\" Swanell reported. \"With the launch in West Virginia this week, alongside upcoming launches in Pennsylvania and Ontario, we expect to see our iGaming revenue continue to rise thanks to our continuously improving offerings.\"
Fromdeereplanet.com
