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Another Great Year for bet365
- September 21, 2016 By Oliver Young -
It has been predicted and published on multiple occasions that Brexit will have a negative effect on UK gambling operators. 2015 and 2016 have been quite difficult for many companies. However, that is certainly not the case with bet365 as the previous months have been nothing but successful for the Stoke-on-Trent based company.
All financial parameters for the one-year period ending March 27 this year have been improved compared to the previous 12 months. Since bet365 is a privately owned company, it is not required to publish quarterly financial reports. Experts claim that bet365’s success comes from the fact that this company and its management and owners were the first to realise that online betting and casino gaming is the future.
Comparing financial reports of different betting and casino operators one can quickly draw the conclusion that retail-dependant operators are the ones which are struggling.
A Large Increase in Mobile Betting Revenue
The report shows that bet365’s operating profit amounted to £456, which is an increase of exactly £50 million, which is an increase of almost 11%. The situation was pretty much the same with the pre-tax profit which rose from £409 to £459 million. Similarly, the after-tax-profit also grew, by 10%, up to £448 million.
Moreover, the total revenue exceeded £1.5 billion (£1.55 billion) which is an increase of 5%. The fact that sports betting turnover was also higher, by 6% and it totalled £37 billion is rather interesting, especially if we take into consideration the fact that the Football World Cup was held during the previous fiscal year, i.e. in the summer of 2014.
Speaking of sports betting, in-play or live betting remains the most popular type of betting, as 72% of the sports betting revenue came from it. However, this is a 3% decrease from last year. Mobile betting revenue grew by 36%. The company didn’t release the figures for the mobile casino platform. However, Denise Coates, the company’s CEO, stated that the mobile casino platform is gaining significance.
It’s Been a Great Year for Stoke FC too
The number of employees and customers also grew in the last 12 month period. Bet365 now has a staggering number of customers – over 21 million, an increase of 11%. The total number of people employed at the company now is 3,177, a 9% increase.
The company began its UK expansion by opening a satellite office in Manchester. It has been announced that this office will employ up to 70 people. Despite the fact that bet365 invested £125 million via investment bank company Goldman Sachs, it still has a cash reserve of over one billion pounds.
The bet365-owend football club, Stoke City also had a great year finance-wise, boosting a £8.5 profit. In comparison, the club suffered a loss of £230K in the previous period. The profit of Stoke City FC is even more remarkable if we take into consideration the fact that the club’s yearly payroll rose by more than five times, from £14.3 to an impressive £77.2 million.
Denise Coates is one of the five women that were featured in the Forbes Richest in Tech list. She is now $900 million richer, and her total wealth amounts to $3.8 billion.