bet365 Revenue Nears £3bn As Growth Slows

Global online betting giant bet365 recorded net revenue of £2.98bn in its 2019 financial year, with annual growth decelerating versus the prior year amid weaker margins and a more stringent approach to responsible gambling and anti-money laundering.

According to the group’s latest set of accounts, bet365 grew net revenue by 9.7 percent year-on-year to £2.98bn in the 53 weeks to March 31, 2019 as a 23 percent increase in sports amounts wagered to £64.5bn was offset by a meaningfully lower, albeit unspecified, gross win margin.

The Stoke-based firm’s full-year operating profit from betting and gaming operations rose 12.4 percent to £767m at a slightly improved operating margin of 25.7 percent.

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