Bet365 Profits Up 35% To £148m In 2012

Bet365 Profits Up 35% To £148m In 2012British online gambling operator Bet365 has released its financial figures for the year ending March 31, 2013, revealing an impressive 35% increase in profits to £148m compared to the previous year. However, during the year Bet365 accrued losses on account of its controlling interest in struggling Premier League football club Stoke City, without which the company’s profits would have risen by 54% to £179m.
In actual fact, Stoke City’s losses had increased exponentially from £5.8m in 2011 to £30.9m in 2012, primarily due to the company spending extra money propping up its playing squad as it sought to maintain its Premier League status. Not surprisingly, Bet365 now seems to be reassessing its relationship with the club, with Bet365 CEO Denise Coates (photo) stating:
“[Bet365] is committed – following the new broadcast deal and the introduction of financial fair-play rules – to reduce the club’s reliance on the group and, over the medium term, to make it self-sufficient.”
During Bet365’s fiscal year, online betting turnover approached £20 billion, up from £12.4b a year earlier, while total revenue was up by 44%. Outside of sports betting, poker revenue increased by 10%, bingo by 25% and casino by 35%. In addition, active users hit 2 million and net depositors reached 1.3m. The company also had to shell out £31m in corporation tax for the year as, unlike many of its online competitors, Bet365 has kept its headquarters in the UK and not sought overseas tax havens.
A little over half of the private company’s shares are owned by Bet365 founder Denise Coates, and last year, Denise received £5.4m in pay and bonuses as well as half the total £15m in dividends disbursed. Denise Coates’ father Peter and brother John own much of the remaining shares in the company.

Poker News
Spanish Online Poker Revenue Jumps 27% in Q1
03 Jun 2018
In January, Spain and France started pooling their online poker players in an attempt to revive an industry decimated by the ring-fenced policies adopted by their respective governments. If they were ever in any doubt as to the validity of their move, the results for the first three months of 2018 will certainly have allayed
Ohio Casino Revenue Up 1% to $71.8m in April
17 May 2018
The Ohio Casino Control Commission has released its gambling results for April, with the state’s four casinos collecting $71.8 million last month, up by almost 1% compared to the prior year. Meanwhile, the Buckeye State’s seven racinos fared considerably better, with their revenue rising by 8% to $89.7 million from their slots and video gaming
NJ Generates Record iGaming Revenues in February
15 May 2018
In April, New Jersey’s online gambling market saw its revenue rise by 10.6% to $23 million versus the same month in 2017, with the amount posted second only to the record $25.6 million collected in March 2018. As a result, the Garden State has now generated $92.5 million over the first four months of this
Maryland Casino Revenue Up 6% to $143m in April
11 May 2018
Maryland’s six casinos generated gross gaming revenue (GGR) of $143.5 million in April, marking a 5.7% increase compared to the $135.7 million collected in the same month a year ago. As a result, the Free State has now returned four consecutive months of gains this year, providing much needed assistance to the Education Trust Fund,