International edition
September 30, 2020

Net debt reduced “significantly”

Betfred turnover surpasses USD 20B in 18-month period

Betfred turnover surpasses USD 20B in 18-month period
John Haddock, chief executive of the Betfred Group, has said that the bookmaker is “delighted” with its performance during the 18 months through to September 2014, having posted turnover of USD 20.9B in the period.
United Kingdom | 07/02/2015

John Haddock, chief executive of the Betfred Group, has said that the bookmaker is “delighted” with its performance during the 18 months through to September 2014, having posted turnover of USD 20.9B in the period.

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he company, which operates the Betfred, Totepool and Totesport.com brands, was also able to post profit of £593 million, up from £362 million in the previous 18-month period.

Turnover generated by Betfred.com hit £1.9 billion, while the bookmaker was able to pay almost £40 million into the racing industry during the period.

In addition, the group stated that net debt reduced “significantly” during the period, with this figure down £68 million to £145 million.

Employing more than 10,000 people across its operation, Betfred has a betting office network of almost 1,400 sites, as well as pool betting on 58 racecourses and a range of telephone and internet betting services.

“Although we have faced increased taxation, regulation and a very competitive market place we are delighted to report a positive set of results. We are pleased to continue our support for racing and once again we have over-delivered on our promise to the government when we acquired the Tote and delivered £19.1m in direct contributions,” Haddock said,

“This, together with our levy payments, equates to a total payment to racing of £37.7 million in the 18-month period and we are proud to continue to be one of racing’s biggest sponsors. Our estate of just under 1,400 betting shops continues to perform well and there’s been major improvement in our online and mobile offerings. Totepool continues to grow and in this period we had a record-breaking Scoop6. We have a clear message across the Betfred Group to all our customers to keep gambling fun and gamble responsibly.”, he added.

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