Mobile sports revenue grew 18% during the fiscal year

Bet365 posts 8% annual revenue decline

Denise Coates, the Founder and Joint CEO of online gambling business Bet365, next to John and Peter Coates.
2021-04-02
Reading time 49 seg
Gambling giant bet365 saw revenue fall by eight per cent to £2.8 billion in 2019/20.

The latest financial accounts from the Stoke-on-Trent company - which owns a majority stake in Stoke City Football Club - revealed that both revenue and profit decreased in the 53 weeks to March 29, 2020.

Revenue dropped to £2.8 billion down from £3.06 billion for the previous year, while operating profit for the group fell almost 75 per cent to £194.1 million from £758.3 million - this includes an £87.2 million pound loss from Stoke City.

But the company still managed to create 469 new jobs during the 12-month period, increasing its total workforce to 5,177 from 4,708.

It was good news for the company's joint chief executive, Denise Coates CBE too, who received a £421 million pay packet - and a £95 million dividend during the year.

Ms Coates' brother, John and father Peter Coates, also received the £95 million dividend. This is an increase on £92.5 million the previous year.

In the annual report, Ms Coates - who is bet365's highest paid director - said: "I am pleased to report that the Group continued to make considerable progress during the period, particularly in the priority area of safer gambling, where significant investment and developments have been made.

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