bet365 Australia narrows operational losses to AUS $10.9 million

bet365Independent bookmaker bet365 has reduced its Australian market losses to AUS 10.9 million (£6.3 million) for the 12-month period ending 27 March.

The figure represents a marked improvement on its fiscal 2015 market losses of AUS $31 million.

Since beginning its operations in Australia under a Darwin license in 2012, the Stoke-based bookmaker has accumulated losses of AUS $133 million (£77 million).

Reporting its results to the Australian Securities and Investment Commission, bet365 management stated that the firm was “gaining momentum in the market”. In its Australian financial update the bookmaker declared that it had generated AUS $96 million (£55 million).

In 2015, bet365 governance stated its commitment to growing its services in the competitive Australian online betting market, launching a AUS $17.3 million multi-channel advertising campaign.

At present, bet365 is believed to hold a 17% share of Australia’s online betting market, according to the Australian Financial Review.

Check Also

BetConstruct - 01.06.2020, Schleswig, the Swedish flag with the yellow Scandinavian cross on a blue background, illuminated by the sun against a blue sky and blowing in the wind. | usage worldwide

BetConstruct takes next strategic step through Swedish licence

BetConstruct has been awarded an online gambling and betting licence for its sportsbook and casino …

Betgenius: Spare change… how will the increase to five subs affect football trading?

Betgenius Head of Trading Dmitri Agapov weighs up what the new International Football Association Board (IFAB) …

GVC secures its Blue Chip status re-listing on FTSE100

GVC Holdings has completed a further leadership objective having been re-admitted onto the FTSE100 index, bolstering …