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Bet365 Sees Operating Profits Grow 26% To £404.4 Million

Bet365 Sees Operating Profits Grow 26% To £404.4 Million

Bet365, the world’s largest online gambling company has said its operating profits have grown by more than 26% to an impressive £404.4 million.

The news was announced as the company’s employment level approaches 3,000 and the business is preparing to move into its new Festival Park headquarters next year. The profits mean that the company has held on to the top spot in the eGR Power 50 list, a guide to the top operators in the e-gaming industry.

According to Denise Coates, the joint chief executive of Bet365, last year’s FIFA World Cup resulted in a significant number of new customers, increased betting and as a result strong revenue performance. She also said that their mobile sports betting product performed particularly well with an increase in amounts bet of 59% and revenue growth of 66% which made mobile sports gambling the most popular betting platform.

The company now has close to 18.5 million customers and total betting on sports over the past year exceeded £34 billion, an increase of 33% from the previous year. Staff numbers also grew by 9% during the period, there are over 2,000 staff based in Stoke-on-Trent and the company has invested £30 million in a new headquarters on the former site of The Sentinel.

The company has now said that it will continue to invest in infrastructure and technology around the world and this includes plans to build a new office to consolidate all the staff in Stoke-on-Trent in one location in order to improve efficiency and staff engagement.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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