bet365 reports company profits of £213 million

denise
bt365 – Chief Executive Denise Coates

Growth in in-play and mobile betting saw bet365 operating profits increase by 81% during the latest financial year (12 months ending March 2014).

Bet365 posted gaming turnover of £1.30 billion on all product verticals, reporting an increase of 38% on 2013 figures. The Stoke based operator saw growth on all its gaming verticals. Pre-tax profits rose by more than 44 percent, to £213.8 million (2013 – £148million).

Sports betting proved to be the Key performance driver for the operator, who witnessed growth through its in-play and mobile betting verticals. The operator reported an increase of 37%  on sports betting wagering, driven by a staggering 103%  increase in mobile betting revenues.

During the period bet365 increased its sports betting customer base to 2.9 million, further reporting new player acquisitions of 1.7 million new users

Sports betting’s strong performance was further supported by growth performance on casino and online bingo verticals. The Operators casino and games vertical saw net revenues grow by 17%, whilst bet365 bingo saw increased net revenues   of 8%.

The operator saw dividends paid to directors amounting to more than £85 million, up from around £14 million last year, with Chief Executive Denise Coates awarded a payment of £50.

The latest financial results for 2013/14 come as the business prepares to move from Festival Park into new £30 million headquarters in Etruria in 2016.

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