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The analyst's take: Bet365's 2022-23 financial results. A key theme of Bet365's revenue report for FY2022-23 was its investment into the US market. Ed Birkin, senior analyst at H2 Gambling Capital, believes this outlay could end up paying dividends.
bet365 Revenue Tops £2.85 Billion but Profits for FY2022 Take Big Hit
Bet365, one of the world's largest and most well-known companies in the gambling industry, released its profit reports for the 2023 fiscal year. According to the available data, the company reports an increase in overall earnings, but a failure to secure profits.
Bet365 chief Denise Coates's earnings topped £260mn in 2022
Bet365 results reported that revenue from sports and gaming for the year ended 27 March 2022 was up by 2.9% year-on-year to £2.85bn. The increase was mostly due to the success of its gaming operations. Sports gaming revenue was down by 2% from 2020-21, while gaming revenue was up by 25%.
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Bet365 has reported revenue of £2.81bn (€3.39bn/$3.76bn) in the full year ended March 2021, largely even with its 2020 revenue, as growth in gaming helped offset a pandemic-related drop in in-play betting volume.
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