Bet365 CEO on the State of Online CasinosPublished December 30, 2011 by OCR Editor
bet365 Casino in 2011.
Bet365 co-CEO Denise Coates sat down recently with online gambling magazine eGaming Review, and talked about the great success her company's online casino has enjoyed in the year just about to end.
Decent Year Financially
Like many of its rival online gambling companies, bet365 looks likely to end up much stronger at the end of 2011 than many industry insiders might have thought at the beginning of the year, if Coates' comments are anything to go by.
Coates told EGR that she thinks the company has "had a decent year financially," and rejected the notion that it was their toughest year on record. "Don't get me wrong, it's been challenging," she said, before pointing out that every year is like that.
She said the launch of the new sports betting site including new in-play features was the highlight of the business year. Our sports product is so critical to us and it's imperative we keep driving it forward, she said.
Relationship with Playtech
William Hill Online has faced ongoing issues with software provider Playtech this year, which raised the possibility that other online gaming companies may be facing similar experiences. But Coates said bet365's relationship with Playtech remains good, calling them "a valuable partner" and "a pure software provider."
So don't expect to see any changes in the near future between bet365 and its long-standing provider of software for its casino, poker and other platforms.
Coates said she is pleased with bet365's current strategy of building its existing business, but on the other hand she did not rule out acquisitions in new markets. She said one only needs to look at what Paddy Power have done in Australia to see what value can be created if such a strategy is executed well.
She said preparation for new licenses in Australia, Spain and Denmark has been made more difficult by having to deal with all three at the same time. But she praised the models taken by Denmark and Spain - which have opened those countries up to outside competition - and said if other follow their lead "it will be good for the industry in the long-term."
And the million dollar question - what about the US?
Of course, much bigger than all the aforementioned markets is the United States, and Coates said that although bet365 has not participated in lobbying for gambling reforms there, "we are watching developments with interest."
In Coates' opinion, sports betting is some way off there, so her own company is focusing its efforts elsewhere. But she said that if a large state were to regulate it, the company would then look into it. So there is something to look forward to there!