Expanding Sky Betting & Gaming breaks £500 million revenue mark

Expanding Sky Betting & Gaming breaks £500 million revenue mark

Thursday, November 9, 2017 Posted by Luke Massey
Over 80% of its 2016/17 revenues were generated through mobile devices

Sky Betting & Gaming (SB&G) has confirmed group revenue of more than £500 million for 2016/17, an increase of 38% from 2015/16 (£516 from £374 million).

Filing its year-end accounts (12-month period ending 30 June), the independent online betting firm also confirmed that its player base now exceeds 2.5 million customers, with approximately 80% of its group revenues generated from mobile play.

Closing a busy period featuring new product launches, EURO 2016 and a significant recruitment drive, SB&G declared profits of £146 million, up 38% on the corresponding £105 million in 2015/16.

Richard Flint, CEO of Sky Betting & Gaming, said: “The business performed very well in 2016/17, with further investments in product, technology and brand delivering strong financial results. During the year, we invested in people and technology in our Yorkshire base, with a 40% increase in headcount, helping us to cement our position as the UK’s most popular online betting brand.”

The ‘accelerated performance’ of the Leeds-based operator will no-doubt please majority shareholder CVC Capital, who in 2015 acquired SB&G from Rupert Murdoch’s Sky Media group for a total consideration of £800 million.

Established as a leading UK online betting destination, SB&G is now targeting 2018 growth in the betting markets of Italia and Germany, where its Sky Bet brand is currently building assets Sky Bet Italia and Sky Bet Deutschland.

SB&G’s rapid growth has seen the company labelled a ‘Yorkshire Tech Powerhouse’. During 2016/17, its headcount grew by a reported 40%, having expanded its tech and development capabilities in both the Leeds headquarters and Sheffield technology hub.

Totally Gaming says: Like competitor bet365, SB&G has delivered growth and profits by focusing on in-house development and innovation. The firm’s distinct approach should aid its operations and shake up its target markets of Italy and Germany, as it starts to build momentum in new territories.

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