bet365 Posts Profitable Results for 2023-24 Fiscal Year

The betting and gaming segment accounts for a huge amount of profit, though not unusually for the brand, some of the other activities of the business aren’t so profitable. The Stoke City FC business operations are running at a loss, but not enough to make a significant dent in the profits, which stand at £626.6 million.

CEO Denise Coates spoke about the improvements the company made as well as increased US operations.

“During this period, the group has continued to invest significantly in its American platform and has successfully launched regulated products in the states of Arizona, Iowa, Indiana, Kentucky, Louisiana, North Carolina, and Pennsylvania,” she explained.

Sports betting was up 11% as there are new products including bet builders available on more sports. We also saw increases in some other virtual games and sports, plus support for more languages.

The gaming segment is relatively flat in its income but bet365 has managed to turn a significant profit. There has also been a lot of money put into the charitable Denise Coates Foundation (£120 million).

bet365 also explained many of their regulatory improvements including working with the Gambling Commission on financial risk checks. Their filing also discussed an ongoing anti-money laundering (AML) investigation by Australian regulator AUSTRAC, initiated in March 2024.

bet365 is an industry giant and expects to “ensure consistent performance across its gaming products,” the filing stated. Their expansion has proven to be a success and the significant impacts of charitable efforts by the brand should not be ignored.