Online gambling operator Bet365 continues to outclass its UK competition, posting a 27% rise in operating profit in its 2015 fiscal year.
The Stoke-based Bet365 reported revenue rising 15% to £1.47b in the 12 months ending March 31, while operating profit rose to £410.2m. Bet365’s owners received a £75m dividend in FY15, down from £95m in FY14. Bet365 is half-owned by CEO Denise Coates (pictured), while brother John holds a one-quarter share.
Unlike its publicly traded Gibraltar-based rivals, Bet365 was already paying tax on its UK online revenue, so the Dec. 1 introduction of the UK’s new 15% online point-of-consumption tax had less of an impact than other UK firms have reported. Regardless, the pace of revenue and profit growth was slower than the company posted in FY14.
The FY15 numbers were boosted by the 2014 FIFA World Cup, leading to a one-third rise in sports betting handle to £34b. In-play wagers accounted for 75% of total sports turnover, while mobile wagering handle rose 59%. Active sportsbook customers grew by 41% to 4.1m, including 2.3m new depositors during the period.