Sky Betting & Gaming revenue up 38% in FY2017

ports betting and online casino operator Sky Betting & Gaming has reported a 38% year-over–year rise in its group revenues for the financial year 2017.

In its financial report for the year, the company reported group revenues of £516m, a rise of 38% when compared to the £374m in group revenues achieved in the 2016 financial year.

Breaking the revenues down between the two betting and gaming divisions of the business, betting revenues increased 46% year-on-year to £313.6m in FY2017 while gaming revenues also grew, rising 27% year-on-year to £202.2m during the same period.

Company earnings before interest taxation depreciation and amortisation coincidentally also grew by 38%, rising from £105m in FY2016 to £146m in the 2017 financial year. Total costs also increased year-on-year by 38% to £370m, with marketing costs reporting the biggest increase, jumping 45%.

In addition to key financial rises, Sky Betting and Gaming reported a 40% rise in sports book bets, which increased to £3.4bn from its 2016 total of £2.4bn. The company recruited a further 200 people during the period, with the bulk of those being located at the companies Yorkshire office.

Richard Flint, Chief Executive of Sky Betting and Gaming said: “2017 was a record year for all major metrics, reflecting our ongoing investment, a relentless focus on quality, our customer obsession and great teamwork.

"I am proud that 2017 was another record year. We continued to lead the market for innovation, extending our lead as the UK’s most popular online betting brand. Our investments in brand, technology and people are paying off, and we delivered 38% growth in revenue and EBITDA in the year.”