bet365 Sees Profits Soar to £179m

Sports betting operator bet365 has posted strong annual earnings with profits soaring to £179m and igaming wagering increasing 57% to almost £20bn for the year ending 31 March 2013.  The Figures seen and published  by eGaming Review reveal that profits from igaming operations rose 54% to £179m, this growth was aided by expansion into new regulated markets such as Spain and Denmark and increased play on bet365 mobile and tablet platforms. Mobile wagering on bet365 platforms increased by 150% during the period, with net revenues growing 158%. .

The bet365 £20bn  wagering figure is greater than those of its industry competitors William Hill and Ladbrokes combined, and almost four times that of Irish operator Paddy Power who announced a 2012 wagering mark of £5.69bn. Furthermore Bet365 active users during the period exceeded the figure of two million, the operator announced a figure of 2.7m new player sign ups and 1.3m new depositors to its igaming services.


Operationally bet365’s own headcount also rose during the period, up 19% year-on-year to over 2,500. With the announcement of performance Bet365 paid out dividends of £15m to its shareholders (NB – Bet365 is a private company). Main beneficiaries of the payout were CEO Denise Coates and founder and Chairman Peter Coates.

Denise Coates commented on bet365 performance: “The Group continued to experience significant growth during the period, with overall revenues from the Group’s gambling activities increasing by 44%, and was pleased to secure top spot in eGaming Review’s Annual Power 50 for the third consecutive year.”
She further commented on future developments for bet365, where the company  would aim to  “invest heavily” in IT infrastructures and technology, to ensure it has both the” flexibility and scalability” to evolve with internal and external developments.

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