{"id":230778,"date":"2022-09-07T15:57:20","date_gmt":"2022-09-07T20:57:20","guid":{"rendered":"https:\/\/www.casino.org\/news\/?p=230778"},"modified":"2022-09-07T16:20:35","modified_gmt":"2022-09-07T21:20:35","slug":"pointsbet-has-problems-at-its-us-unit-according-to-former-staffer","status":"publish","type":"post","link":"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/","title":{"rendered":"PointsBet US Operations a Hot Mess, Says Former Employee"},"content":{"rendered":"

PointsBet (OTC:PBTHF) is well-known in its home country of Australia, and it\u2019s aiming for similar status in the US. But a former staffer claims the bookmaker\u2019s US operations are beset by strategy missteps and a toxic culture.<\/p>\n

\"PointsBet\"
An advertisment for PointsBet. A former employee says the company’s US business has lots of problems. (Image: BettingPros<\/em>)<\/figcaption><\/figure>\n

The ex-employee, identified only as Mr. X, made the remarks in an interview with Stream. Stream, which connects former employees at a variety of firms with institutional investors mulling stakes in those companies, reportedly verified Mr. X was a PointsBet staffer and that he worked for the gaming company in Australia in the US.<\/p>\n

Mr. X claims PointsBet\u2019s approach in the US is similar to those of rivals, such as DraftKings (NASDAQ:DKNG) and FanDuel. That playbook often centers around aggressive marketing and promotional spending<\/a> in an effort to create loyal customers. But the former worker said the PointsBet brand simply is resonating with US bettors.<\/p>\n

They just don\u2019t know what they\u2019re doing. Nothing\u2019s going to change if senior leadership stays the same, if the CEO of the US business stays the same,\u201d<\/strong> said Mr. X in the Stream interview.<\/p><\/blockquote>\n

PointsBet launched in the US in 2019 and is operational in Colorado, Illinois, Iowa, New Jersey, \u201cand beyond,\u201d according to its website.<\/p>\n

PointsBet Profitability Problem<\/h2>\n

Like many of its US rivals, PointsBet faces the conundrum of rising revenue and a potentially lengthy road to profitability.<\/p>\n

\n

The company\u2019s latest financial results showed a 52% surge in revenue, but a loss of $181.2 million in US dollars, which was wider than the year-earlier loss. Amplifying those woes is the fact that FanDuel recently notched the first profitable quarter in the history of the post-2018 US sports wagering industry. That’s while operators such as Barstool Sportsbook, BetMGM, and Caesars Sportsbook, among others<\/a>, are also close to shedding their money-losing ways.<\/p>\n<\/div>\n

Mr. X, who departed PointsBet approximately a year ago, said he\u2019s broadly bullish on sports wagering in the US, and highlighted FanDuel\u2019s ascent to profitability in his remarks to Stream. However, he has doubts that his former employer will attain such heights.<\/p>\n

\u201cWhen I contrast that to PointsBet, I\u2019m very bearish because I don\u2019t have any confidence in the US leadership delivering anything. Nothing has changed. While I was there, after I\u2019ve left, it seems to be the same story,\u201d <\/strong>he said.<\/p>\n

Still, PointsBet has its supporters in the US. In June, SIG Sports Investments Corporation (SIG Sports), a unit of Susquehanna International Group (SIG) of Companies, took an almost 13%<\/a> stake in the Australian company, while Penn Entertainment (NASDAQ:PENN) owns nearly 6% of PointsBet equity.<\/p>\n

PointsBet Partnership Problems<\/h2>\n

Like many sportsbook operators in the US, PointsBet has partnerships with media outlets and teams. But Mr. X says the company\u2019s spending on such endeavors isn\u2019t bearing fruit, and that those expenditures would have been better directed to other pursuits.<\/p>\n

For its part, PointsBet decries the former staffer\u2019s claims, noting Mr. X may have been paid to make those less-than-savory remarks.<\/p>\n

\u201cPointsBet strongly rejects the assertions made by an anonymous former employee who was likely compensated for an interview with a third-party firm … PointsBet stands by its culture and utterly rejects baseless accusations made about PointsBet\u2019s business and leadership,\u201d <\/strong>a company spokesman told the Australian Financial Review<\/em>.<\/p>\n","protected":false},"excerpt":{"rendered":"

PointsBet (OTC:PBTHF) is well-known in its home country of Australia, and it\u2019s aiming for similar status in the US. But a former staffer claims the bookmaker\u2019s US operations are beset by strategy missteps and a toxic culture. The ex-employee, identified only as Mr. X, made the remarks in an interview with Stream. Stream, which connects […]<\/p>\n","protected":false},"author":46,"featured_media":230781,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[21,1,1074],"tags":[81967,82714,80968],"acf":[],"yoast_head":"\nPointsBet Has Problems At Its US Unit, According To Former Staffer<\/title>\n<meta name=\"description\" content=\"PointsBet faces an array of issues at US operations, says former employee.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"PointsBet Has Problems At Its US Unit, According To Former Staffer\" \/>\n<meta property=\"og:description\" content=\"PointsBet faces an array of issues at US operations, says former employee.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/\" \/>\n<meta property=\"og:site_name\" content=\"Casino.org\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/Casino.OrgNews\" \/>\n<meta property=\"article:published_time\" content=\"2022-09-07T20:57:20+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2022-09-07T21:20:35+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/PointsBet.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1636\" \/>\n\t<meta property=\"og:image:height\" content=\"800\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Todd Shriber\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@etfgodfather\" \/>\n<meta name=\"twitter:site\" content=\"@Casino_Org\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Todd Shriber\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/\",\"url\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/\",\"name\":\"PointsBet Has Problems At Its US Unit, According To Former Staffer\",\"isPartOf\":{\"@id\":\"https:\/\/www.casino.org\/news\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/PointsBet.jpg\",\"datePublished\":\"2022-09-07T20:57:20+00:00\",\"dateModified\":\"2022-09-07T21:20:35+00:00\",\"author\":{\"@id\":\"https:\/\/www.casino.org\/news\/#\/schema\/person\/f4cecf70a5032bc4e60eb73fc86d4a85\"},\"description\":\"PointsBet faces an array of issues at US operations, says former employee.\",\"breadcrumb\":{\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/www.casino.org\/news\/pointsbet-has-problems-at-its-us-unit-according-to-former-staffer\/#primaryimage\",\"url\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/PointsBet.jpg\",\"contentUrl\":\"https:\/\/www.casino.org\/news\/wp-content\/uploads\/2022\/09\/PointsBet.jpg\",\"width\":1636,\"height\":800,\"caption\":\"An advertisment for PointsBet. 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