A Companies House filing has revealed that Bet365 achieved group revenue of £3.72 billion (€4.48 billion/$4.65 billion) for the financial year ending 31 March 2024, reflecting a 9% year-on-year increase compared to the previous year’s £3.41 billion.

The report highlighted a corresponding 9% rise in betting and gaming revenue, which accounted for £3.7 billion. Meanwhile, the football club and facilities segment, including Stoke City Football Club during the reporting period, contributed £23.8 million to overall revenue.

Profits and Losses

In terms of profitability, Bet365’s betting and gaming division posted a pre-tax profit of £626.6 million. However, the Stoke City FC business reported a significant loss of £30.3 million, more than doubling its £12.4 million loss from the previous year.

The group’s charitable contributions rose by 20.5%, with £127 million donated during the financial year. Of this, £120 million was directed to the Denise Coates Foundation. The overall gross profit for the group increased by 4.73% to £3.03 billion, while operating profit saw a remarkable turnaround, reaching £396.6 million compared to the previous year’s £37.3 million operating loss.

Following the reporting period, the Stoke City FC and facilities business was delisted on 8 July. The cost of the demerger is projected at £118 million, with the controlling stake now under director John Coates.

U.S. Expansion Drives Betting Growth

Bet365’s betting revenue grew by 11% during the year, buoyed by key product enhancements, a longer trading year, and expansion in the U.S. market.

“During this period, the group has continued to invest significantly in its American platform and has successfully launched regulated products in Arizona, Iowa, Indiana, Kentucky, Louisiana, North Carolina, and Pennsylvania,” CEO and co-founder Denise Coates stated in the filing.

Coates also highlighted the enhancement of the Bet Builder feature, which now includes sports such as boxing, cricket, F1, and UFC. The fantasy sports product and virtual sports offerings were also expanded, alongside the introduction of French and Latin American Spanish language options. Investments in customer engagement and search optimization further enhanced the user experience.

Gaming Performance and Strategic Focus

Bet365’s gaming division remained steady year-on-year, meeting expectations after a strong prior performance. Coates attributed this stability to strategic initiatives, including an upgraded games recommendation engine that was extended across additional segments and markets.

Despite headwinds in the live casino market, the segment remained a priority for the operator. Bet365 expanded its dedicated table games offering and introduced a second exclusive live game show based on the Super Mega Ultra slot game. Additionally, the operator launched its first free-to-play game, offering daily prizes to users.

“Our games product remained the focal point for housing the variety of game types available, as we continue our quality over quantity strategy,” Coates remarked.

Regulatory Preparedness and Compliance

Bet365 reaffirmed its commitment to safer gambling, emphasizing readiness for new UK regulatory requirements stemming from the government’s gambling white paper. The operator is participating in the UK Gambling Commission’s pilot scheme for financial risk checks, where players are flagged for review when net monthly deposits reach £500, with the threshold set to drop to £150 in February.

The filing also disclosed an ongoing investigation by AUSTRAC, Australia’s financial watchdog, into the operator’s compliance with anti-money laundering and counter-terrorism financing regulations. While no enforcement action has been taken, Bet365 is cooperating fully with authorities.

Additional Highlights

Customer claims totaling up to £19.9 million were noted, primarily linked to historic activities in Germany and Austria. Meanwhile, Denise Coates received a salary of £94.6 million for the year, slashed by 51% compared to the previous year.

As Bet365 continues its global expansion and adapts to evolving market and regulatory landscapes, its strategic investments in technology, customer engagement, and safer gambling measures remain pivotal to its sustained growth.