Bet365 has reported a sports and gaming revenue increase of nine per cent to £3.7bn in the year 2023-24, and operating profit of £396.6m, after a loss of £24.5m last year.
Sports revenues grew by 11 per cent due to expansion into newly regulated states alongside product improvements.
During the year, bet365 launched in states such as Louisiana, North Carolina and Pennsylvania.
“The group has continued to invest in its trading platform capability and markets, increasing our global in-play and pre-match market offerings still further,” the company said.
“The virtual sports product has been improved, with enhancements to soccer and the addition of more sports, including American football and baseball.
“Our Match Live offering has also continued to expand with the addition of basketball, further enhancing customers’ real-time sports information and in-play options and experience.”
Gaming revenue was “broadly flat” year-on-year, bet365 said, but was “in line with expectations given the strong prior-period results.”
“Maintaining this level of performance can be attributed to a number of strategic initiatives across the different gaming products.”
Casino revenue was consistent “despite a number of market headwinds particularly affecting our live casino product,” bet365 said.
“The Group will continue with its long-standing policy of pursuing licences in locally regulated markets and, given its experiences, believes it is well-placed to benefit long-term in those countries where commercially viable regulation is adopted.”
Elsewhere, bet365 CEO Denise Coates cut her salary from £220.7m to £94.7m.
A total of £120m was donated to the Denise Coates Foundation, up from £100m last year.
