UK online gambling operator Bet365 continues to set the pace for its local rivals, posting over half-a-billion pounds of profit in its most recent fiscal year.
Unlike its publicly traded brethren, the privately held Bet365 doesn’t issue quarterly reports, leaving its annual disclosure as the sole means of tracking the company’s financial performance. But the annual report rarely fails to disappoint in terms of the company’s ability to print money like it was the UK treasury.
According to the most recent report, which covers the 12-month period ending March 26, 2017, Bet365 generated revenue of £2.28b, up 38% from the company’s fiscal 2016 figure.
The fiscal year’s operating profit totaled £504m, a 15% rise from the previous year’s returns and over one-quarter greater than the profit reported in the year before that. Bet365 is now sitting on a cash pile of £1.4b, up £300m from the previous year, meaning the company could snap up nearly any one of its publicly traded rivals and still have enough left over to keep Ray Winstone in meat pies.