Bet365 Enjoys Another Profitable Year

BET365 ENJOYS ANOTHER PROFITABLE YEAR

21st September, 2016 at 08:37:14
Source: http://www.azonlinecasinos.com

Revenues and profits soar at UK online gambling group.

Online gambling giant Bet365 has turned in another impressive annual set of results for the year ended March 27, reporting that revenue and profits both grew significantly, with the following highlights:

* Operating profit up at 456 million compared to the 406 achieved in the preceding year;

* Pre-tax profit up 459 million (409 million previously);

* Revenue of 1.55 billion - up 5 percent;

* Sportsbetting turnover up 6% at 36.9 billion - up 2.3 million;

* Employee headcount now at 3,404 - up from 3,179 in the preceding year. This is in addition to 297 casual match-day staff employed during the period;

* The firm opening of the first Bet365 satellite office in Manchester, which will lead to the creation of 70 jobs;

* In-play betting channel delivered 72% of sports wagering, down 3% from the previous year, but mobile revenues were nevertheless up 36% y-o-y;

* Active customer numbers up 11% y-o-y, with lifetime signups over 23 million;

* Stoke City, a football club owned by Bet365, reported a 8.5 million profit - a significant improvement on the previous year's 232 million loss, made more impressive by the annual employee expenses rising 14.3 million to 77.2 million;

* Investments in other industries during the year totalled 125 million;

* Cash reserves of 1.1 billion.

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