![]() “They just don’t know what they’re doing. While I was there, after I’ve left, it seems to be the same story. “When I contrast that to PointsBet, I’m very bearish because I don’t have any confidence in the US leadership delivering anything. ,” the ex employee said, citing FanDuel, which recently posted a profitable quarter and whose parent, Flutter Entertainment, is guiding for full-year profitability next. Even with the regulatory world and the taxes and everything. I think long term, there’s a lot of money to be made. “I’m bullish about the industry in general, don’t get me wrong. The ex-staffer also reckoned PointsBet had too many partnerships like the ones with NBC and Denver Nuggets, which were just a “drag” and sapping money that PointsBet could invest elsewhere like in online betting. PointsBet is the official gaming partner for the Denver Nuggets. ‘They just don’t know what they’re doing’ But despite that aggressive marketing spend, the “American market is not that interested in PointsBet brand”. The person claimed PointsBet’s whole US strategy was to go to market aggressively, with big ticket advertising and promotions and hope to catch sticky customers. The rank-and-file employee left PointsBet about a year ago and had worked in both the Australian and US offices, across fraud analysis and later, email marketing. In the 12-page transcript about the US business, the ex-employee said PointsBet’s US leadership including the chief executive needed to change, the staff was unhappy and had a higher than average churn rate. The shares have slumped 31.9 per cent since the profit results and the Stream report were published, taking the losses for the year to 67 per cent. PointsBet’s results last week showed while it increased revenue by 52 per cent to $296.5 million, it steepened net losses to $267.7 million. The ex-staffer was unnamed but vetted by Stream.Ī transcript of the conversation, which included the person’s work history, was published to Stream’s broader client base late last week. The ex-staffer painted a highly bearish picture of the ASX-listed wagering business’ US prospects in an interview conducted by an analyst via online service Stream, which tees up chats between investors and former staff of companies they are interested in. Pointsbet chairman Brett Paton, a former capital markets banker. A former PointsBet staffer’s allegations of culture and strategy issues at its US outpost is doing the rounds in institutional circles, sparking a fresh round of investor scrutiny into the bookmaker’s American dream.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |