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NEWS 17 December 2019

Bet365 sees 10% revenue rise for fiscal year, to £2.98bn

By Owain Flanders

According to Bet365’s latest financial report, obtained by Gambling Insider, the operator generated revenue of £2.98bn ($3.94bn) for the 12 months ending 31 March 2019, a rise of 10% year-on-year.

Operating profit was £767.1m, an increase of 12%, while the number of Bet365's active customers rose 23% for the period.

The amount wagered on sports was £64.5m, up 23%, with in-play wagering representing 79% of total sports revenue.

Mobile sports revenue grew 18% during the fiscal year.

The operator also grew its number of staff to 4,646, an increase of 616 from 2017/18.

The period saw Bet365 increase its fixed assets by £120m, with a $50m investment in Empire Resorts in New York, increased player registrations and the purchase of a new office building.

The operator attributed its strong performance to revenue from the FIFA World Cup in 2018, and reduced direct costs as a result of a non-recurring charge in the prior period.

Bet365 CEO Denise Coates also credited the period’s progress to the evolution of the operator’s sports offering and gaming products, with investment in the development of in-house games, native apps and the growth of live casino.

RELATED TAGS: Online | Industry | Sports Betting | Financial
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