Bet365 Enjoys Another Profitable Year

Revenues and profits soar at UK online gambling group

Online gambling giant Bet365 has turned in another impressive annual set of results for the year ended March 27, reporting that revenue and profits both grew significantly, with the following highlights:
* Operating profit up at GBP456 million compared to the GBP 406 achieved in the preceding year;
* Pre-tax profit up GBP459 million (GBP409 million previously);
* Revenue of GBP1.55 billion – up 5 percent;
* Sportsbetting turnover up 6 percent at GBP 36.9 billion – up GBP2.3 million;
* Employee headcount now at 3,404 – up from 3,179 in the preceding year. This is in addition to 297 casual match-day staff employed during the period;
* The firm opening of the first Bet365 satellite office in Manchester, which will lead to the creation of 70 jobs;
* In-play betting channel delivered 72 percent of sports wagering, down 3 percent from the previous year, but mobile revenues were nevertheless up 36 percent y-o-y;
* Active customer numbers up 11 percent y-o-y, with lifetime signups over 23 million;
* Stoke City, a football club owned by Bet365, reported a GBP8.5 million profit – a significant improvement on the previous year's GBP232 million loss, made more impressive by the annual employee expenses rising GBP14.3 million to GBP 77.2 million;
* Investments in other industries during the year totalled GBP 125 million;
* Cash reserves of GBP 1.1 billion.

Online Casino News Courtesy of Infopowa