British operator bet365 is sharing its financial results for the 53-week period ended March 31, 2024, through the release of its latest strategic report.
For the 53-week period ended March 31, bet365 generated $4.6 billion in revenue from its sports and gaming segment, a 9% increase compared to the same period the year prior.
Despite a slow calendar year for major soccer tournaments, the operator attributed its revenue growth during the period to new market launches across North America.
Last January, bet365 launched online operations in Indiana through an access agreement with French Lick Casino. A month later, the operator entered Arizona’s gaming market.
In 2024, bet365 also gained access to Pennsylvania with a looming debut in Illinois. Last week, Brazil welcomed bet365 as an operator with the opening of its regulated market.
Bet365 closed the 53-week period ended March 31 with an operating profit of $145.8 million compared to an operating loss of $151.4 million for the same period the year prior.
Big pay cut for bet365 founder
Bet365 donated $150 million to the Denise Coates Foundation, which invests in local and national charities, through its sports and gaming segment during the 53-week period.
Coates, the founder of bet365, took a pay cut for the 53-week period ended March 31. She paid herself a $118 million salary during the period and received approximately $80 million from dividends. For the same period the year prior, Coates pocketed around $337 million.
Soccer club ownership
The company’s soccer club and facilities segment posted a $38 million loss before taxation for the period ended March 31 as a majority shareholder in EFL Championship club Stoke City. By comparison, it reported a $15.5 million loss from the segment last period.
During the 2023-24 season, bet365 invested $22.7 million in Stoke City for player registrations. By comparison, bet365 spent $3.8 million on players the season prior.
New headquarters for bet365
The operator is also solidifying its footprint in America with the opening of a new U.S. headquarters in Denver. Bet365 has partnered with the Colorado Office of Economic Development and International Trade and commercial real estate advisor Newmark to develop the 120,000-square-foot facility. The new headquarters, which will house several corporate departments, is expected to add roughly 1,000 jobs to Denver’s local economy.
Bet365 also has a U.S. office in New Jersey with international offices in Australia, Europe and South America.
