Bet365 sees revenue climb 39%

Sports Betting

Online gambling giant bet365 has seen its revenue increase to a whopping £2.15 billion over the last 12 months.

The company’s accounts, for the year up to March 26, show the Etruria firm’s turnover grew from £1.65 billion last year.

It also increased operating profit from £456 million to £503 million and pre-tax profit rose from £459 million to £514 million.

In addition, bet365’s customers wagered more than £46.9 billion in bets within the 12 months – up by more than £10 million for the same period in 2016.

The company – which owns the majority share of Stoke City Football Club – has also seen its total number of employees increase to around 3,835 – up from 3,404 in 2016.

bet365 is owned by Denise Coates, John Coates and their father Peter Coates – the family paid themselves dividends of £32.4 million between them during the period.

Joint chief executive Denise Coates CBE said the company’s success over the last 12 months can be attributed to the European Championships and the fall in the value of the pound.

She said: “On behalf of the board I am pleased to report that the Group continued to experience significant growth during the period, with overall revenues and operating profit increasing year-on-year.

“Sports and gaming activities contributed significantly to the overall growth of the Group, with revenue and operating profit also increasing year-on-year.

“Financial performance in the year was augmented by what was, for the Group, a good 2016 Football European Championships. In addition, the fall in the value of sterling during the period also impacted favourably.”