For the 12 months ending March 31 of the past year, Bet365 posted revenue of £3.72 billion. Compared to the £3.42 billion generated in 2022/2023, that is a rise. Reversing the last year’s loss of £25 million, A Companies House filing shows operating profit reached £396 million.
New US launches and an additional week of trading helped drive profit before tax for the segment to £626.6 million. Sports betting revenue rose by 11%, boosted by key product improvements.
Its football club and facilities segment included Stoke City Football Club at the time. It recorded £23.8 million in revenue even though its Stoke City FC business posted a loss of £30.3 million. This widens the £12.4 million loss recorded the prior year.
Bet365 donated £127 million to charity during the period. With £120 million directed to the Denise Coates Foundation, up to 20.5 per cent from the prior year. The filing also revealed that CEO Denise Coates received a £94.6 million salary. This significantly reduced from the £220.7 million from the past year.
Bet365’s CEO, Denise Coates acreditted the strong performance to product enhancements and significant investments in the US operations of the company. In a report, she said that during this period, the group has continued to invest significantly in its American platform and has successfully launched regulated products in the states of Arizona, Iowa, Indiana, Kentucky, Louisiana, North Carolina, and Pennsylvania.
