PointsBet helps power MIXI sales growth

PointsBet is already delivering value to majority owner MIXI, with the Japanese company confirming that total sales on its betting platforms had jumped 150 per cent after the majority acquisition of the Australian and Canadian bookmaker.

MIXI owns 64.4 per cent of PointsBet and included the bookmaker in its results for the December quarter released last week.

It reported that sales in its sports segment, which includes betting, grew 100.4 per cent to 20.4 billion yen (AU$187 million) compared with the previous year, while net sales trended up 149.3 per cent year on year.

Sales from its TIPSTAR and Charilotto businesses also grew 87.2 per cent and 40.2 per cent, respectively.

Overall EBITDA from the sports segment, which includes betting, was 1.477 billion (AU$13.2 million), a massive turnaround on the previous quarter and 273.4 per cent up on what it was in the December quarter of last year.

MIXI’s overall EBITDA across the four divisions of its business, sports, lifestyle, digital entertainment and lifestyle, was 8.3 billion yen (AU$76.32 million). Its net sales across the business were just short of 49 billion yen (AU$450 million).

The sports segment makes up 41.6 per cent of sales for the listed Japanese company.

“We aim to grow a portfolio that isn’t overly reliant on the yen through the growth of PointsBet and other overseas businesses,” the report said.

It also revealed the cost of its sports business had jumped by around 5 billion yen (AU$46 million) across the quarter, while advertising in the betting space had increased from 2 billion yen (AU$18.3 million) to 4.7 billion yen ($43.1 million).  

PointsBet remains listed after betr’s 27.7 per cent interest foiled plans to take it private.  

Its current share price is 90 cents, having remained within an 8c range since late October.

MIXI’s share price is currently at 2630 yen, giving it a market capitalisation of 188.1 billion yen, or AU$1.7 billion.