PointsBet in further restructuring after sale of US wagering business

PointsBet’s overhaul of its executive team has continued amid the ASX-listed firm’s withdrawal from the US wagering landscape.

Chief technology officer Jerry Bowskill, who joined in 2022, will leave the company, PointsBet chief executive Sam Swanell announced.

Bowskill will be replaced by Daniel Lucas, who will relocate from the UK to Melbourne to take up the role from September 1.

Lucas is the global director of trading technology at Flutter.

He oversees technology operations and services across Flutter’s suite of brands, including Fanduel, Sportsbet, Paddypower, Betfair, Pokerstars and Skybet.

Before his role with Flutter, Lucas was the head of data solutions and the head of trading technology at Sportsbet.

Bowskill’s departure comes after PointsBet’s sale of its US business to Fanatics Betting and Gaming.

He follows former group chief financial officer Andrew Mellor and group people officer Melissa Fitzpatrick out the door.

Fitzpatrick’s position was made redundant as a result of the US sale with her position absorbed into the PointsBet Australian and Canadian human resource divisions.

Mellor has been replaced as group CFO by Alister Lui following the release of the company’s half-yearly results.

Lui, the current CFO and head of group finance of PointsBet’s Australian operation, has been a key member of the company’s finance team for the past six years.

Lucas said PointsBet’s investment in technology to enhance its wagering platform made it an exciting time to join the company.

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Swanell says Lucas’ impressive trading background made him an ideal appointment.

“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 said.

PointsBet would continue to invest in “market-leading live betting and multi capability through its Odds Factory”.

Meanwhile, PointsBet’s half-yearly revenue to December 31 was up 6.7 per cent to $117.9 million from $95.3 million in 2022.

The company said the growth was driven by a record performance in Australia.

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Alister Lui will replace Andrew Mellor as PointsBet group chief financial offer, effective from March.

The StraightWarwick Barr

Australian revenue also climbed 6.7 per cent to $101.7m, with strong activity across its core sports betting offering of NBA, NFL and soccer.

The growth came despite a 4.1 per cent drop in turnover.

PointsBet has around 5 per cent of the wagering market share in Australia.