A tech-savvy Sky Betting & Gaming (Sky Bet) dominated Monday’s industry headlines reporting stellar half-year results.
Focusing on the in-house development of its platforms and systems, combined with rich data for greater personalisation of its website and mobile verticals, Sky Bet continues to show its technology pedigree against the industry’s legacy incumbents.
City analysts are keeping a close eye on Sky Bet movements, as in January majority owner CVC Capital was reported to have hired Rothschild to review a potential IPO for the Leeds based enterprise.
Free from any retail restraints, which will likely see Sky Bet’s listed competitors restructure their market operations, an IPO could see the online gambling group shoot up the industry ranks.
Nevertheless, Chief Executive Richard Flint remains fully focused on delivering the firm’s next chapter, in expanding Sky Bet beyond UK shores, starting with Italy and Germany.
“During the period, we continued to export our success, with the launch of our second international business Sky Bet Deutschland for German sports betting customers. This business aims to provide the same quality of user experience, the range of bets and simplicity to German customers that our UK and Italian customers have come to expect from us” Flint detailed in Sky Bet’s latest corporate update.
Facing tougher UK home market prospects, with significant incoming regulatory change, stricter advertising standards, increasing costs, and all-around GDP and Sterling forecasts downgraded, industry leadership has been forced to become less reliant on home comforts.
Sky Bet’s accelerated growth amid a saturated UK betting market, has seen the company become a darling of the Northern tech-scene.
Should Richard Flint and Sky Bet executives succeed in their international quest, Sky Bet may become the most valued name in online betting, regardless of an IPO.