Mobile investment continues to aid Sky

Mobile investment continues to aid Sky

Wednesday, March 2, 2016 Totally Gaming
Richard Flint said the operator is still benefiting from its link to Sky TV

Sky Betting & Gaming revealed a big rise in revenue thanks to mobile growth as it released its first financial year figures since private equity firm CVC Capital Partners became its major shareholder.

The gaming operator said revenue rose 36 per cent to £247m in the 12-month period ending June 30, 2015. Most of this gain came via its sports betting vertical, which improved 56 per cent to £117m, while Sky Vegas gaming revenue rose 20 per cent to £117m.

The company, which is not publicly traded, did not release profit and loss figures, but a spokesman told the Yorkshire Evening Postnewspaper that “profit growth for the group as a whole is in-line with revenue growth”.

It noted that of the total revenue generated by its Sky Bet arm, some 80 per cent came from stakes placed on a mobile device, while the company now has 1.5m registered customers.

Richard Flint, chief executive of Sky Betting, added that the operator is still aided by its link to the Sky Plc television and communications brand, despite CVC - the former owner of William Hill - paying £800m (€1.0bn/$1.1bn) for an 80 per cent share in November 2014.

Flint said: “During the year, we invested in both our technology and mobile platforms from our base in Yorkshire and this has helped drive our strong performance. As an independent company that has a strong relationship with Sky, we have continued to benefit from our Sky branding and links.

“We will maintain our focus on these two key areas in 2016 while also growing our team to ensure we are well placed to deliver another strong year of growth.”

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