bet365 Enters New Strata of 12-Month EarningsPublished November 13, 2017 by Lee R
Proactive reinvestment in protective operations looks should optimise sustainability and growth.
bet365 has turned in a smashing year for the twelve month period through March 26, 2017, topping the £2bn annual revenue milestone for the first time in its history.
Robust Key Drivers
Further significant gains were achieved in year-on-year operating and pre-tax profit growth as well.
The full-year revenue figure for the period reached £2.15bn (€2.44bn/$2.83bn), representing a robust 39% jump from the £1.65bn recorded in the previous calendar month to March 26, 2016.
Figures in reported financial statements just released by the company showed a 15% climb in operating profit from £456m to £503m, with pre-tax profit also up, from £459m to £514m.
Engagement Improves Significantly
More significant gains were reported by bet365 in sports wagers (27%) and number of active players, which jumped over a third to 35%.
CEO Coates Credits Euro 2016
bet365 Joint CEO Denise Coates attributed the success in the Racing Post to the boost in wagers from the Euro 2016 national team football tournament.
Coates, who shares the top spot for the UK sports parlour with her brother John, went on to indicate further value features introduced to customers in the one year period as bet365’s new Edit My Bet and Auto Cash Out options, along with increased live content offerings as a direct result of a streaming capacity that has reached 140,000 events per year.
Expansion Increasing Revenues
Coates is looking forward to even more significant drivers of growth from bet365’s planned expansion, which is set to introduce or enhance operations in the UK, Spain, Denmark, Italy, Gibraltar, Malta, Ireland, Australia, Bulgaria and Cyprus.
Basis for Future Confidence
bet365’s current wealth of experience in regulated markets gives Coates reason to believe bet365 will adapt sustainable models in all the aforementioned regions where the group is “well placed to benefit long-term in those countries where sensible regulation is adopted” while maintaining its commitment to “minimise gambling-related harm and to keep crime out of gambling.”
With innovative measures on tap such as development of predictive algorithms that the group is investing in to improve the accuracy and reach of existing protection measures, the expansion of the already prominent bet365 brand looks as if it will continue to break growth records and attract new players.