Bet365 Reports 9% Turnover Increase to £3.72bn
Bet365’s latest financial report reveals a significant surge in turnover and return to profitability, marking a strong year for the operator.
Turnover Climbs to £3.72bn
Bet365’s turnover reached £3.72bn ($4.66bn) for the 53-week period ending March 31, 2024, a 9% increase compared to the £3.41bn recorded in the previous 52-week period.
Sports and gaming contributed the majority, at £3.7bn, while football club and facilities accounted for £23.8m. Both sectors saw growth, with sports and gaming up by approximately 9% and the latter by 10.8%.
The operator’s profitability experienced a significant shift, with gross profit rising by 4.7%. Operating profit reached £365.7m in 2024, a stark contrast to the £37.3m operating loss in 2023.
Profit before tax also saw a dramatic turnaround, reaching £626.6m in 2024, compared to a £72.6m loss in 2023.
Comprehensive Income Skyrockets
Bet365’s total comprehensive income was £501.2m in 2024, a substantial improvement from the £61.2m comprehensive expense recorded in 2023.
Despite the company’s success, bet365 CEO and Founder Denise Coates’ pay decreased significantly. The report stated that the highest paid director emoluments were £94.7m in 2024, a 57.1% reduction compared to the previous year.
In other news, bet365 has partnered with Inspired Entertainment to launch the supplier’s Hybrid Dealer Roulette game, making it the first company in the UK to offer this new product.
