Bet365 full-year revenue climbs 26% to £2.7bn

Bet365 has reported betting and gaming revenues of £2.72bn for the year to 25 March 2018, a 26% rise year-on-year.

Profits for the 12-month period climbed 33% to £682.2m, with the operator hailing improvements in both betting and gaming.

On sports, bet365 pointed to the launch of Bet Builder and the expansion of Early Payout, as well as the extension of live streaming to esports events for the first time.

“Supported by the sports product enhancements and increased marketing investment, the amounts wagered on sports increased by 12%, whilst the number of active customers rose by 4% and the sports margin percentage experienced growth,” joint group chief executive Denise Coates said in her strategic report.

In-play wagers represented 77% of sports revenue, while mobile revenues rose 29% year-on-year.

Gaming also grew thanks to “significant investment” in the mobile channel, with the launch of new iOS apps and “the closing of certain regulated market product gaps”.

The operator also launched 332 new games in the period, with the improvements leading to improved player retention and an increase in the number of active customers over the period.

Bet365 employed more than 4,000 staff at the end of the financial year, up from 3,700, while it donated £75m to the Denise Coates Foundation.

It currently has £1.8bn cash on hand and in the bank.

The operator has been number one in EGR’s annual Power 50 rankings  for eight consecutive years, with the 2019 version set to be announced next week.

The Stoke-headquartered firm also announced this month it had secured access to the New York sport betting market thanks to a deal with local casino owner Empire Resorts.