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Bet365 Posts 12 Percent Profit Rise For 2018-2019 fiscal Year

Bet365 has posted annual profits totaling £3 billion for its 2018 to 2019 fiscal year ending 31st of March.

The firm‘s annual gaming profits reached the £2.98 billion mark. This figure represents a 10 percent rise from what it had reported in the 2017-2018 fiscal year.

Its operating revenues also went up 12 percent to reach £767.1 million. Their profits, after-tax, were about £681.7 million, which represents a 16 percent rise from their previous fiscal year.

Bet365 attributes this performance to a rise in the number of customers across its platform. Its active customer base has gone up by 23 percent, year-on-year.

New customer played a significant role in the firm’s betting handle, which currently stands at £3 64.5 billion, and represents about 22.7 percent rise compared to the same period in the last fiscal year.

The biggest contributors to the firm revenue for this fiscal year includes in-play betting. It accounted for 79 percent of total revenues. In addition, its revenues from mobile betting also went up 18 percent.

Source: https://europeangaming.eu/portal/latest-news/2019/12/19/61048/bet365-reports-12-profit-hike-for-2018-19-fiscal/

About the author

Catherine Wambui

Catherine Wambui

Catherine Nyaga is a freelance writer covering Real Estate and Technology. Her other interests include Nature, pets and accounting. She recently graduate from Nairobi University with a degree in Accounting.

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