Sky Betting & Gaming sees full-year revenues increase by 38%

Sky Betting & Gaming has seen revenue rise 38% to £516m between 2016-17. The firm’s yearly fiscal report, issued yesterday, showed double-digit growth across all key areas of the business.

Accounts ledger

The fiscal report cements Sky Betting & Gaming’s place as a major player in sports betting. © Pexels.

The figures cover the period for the 12-months up to 30th June 2017, where revenue rose from £374m between 2015-16, to £516m. Earnings also increased by 38% and were up to £146m. The number of customers also increased dramatically, with over 2.6m registered users across its different betting and gaming outlets, which is a 31% increase from the previous year.

This growth in the customer base meant that stakes in the company’s sportsbook also grew by 50% to £3.4bn, which is more than double the amount taken in stakes in 2015. The sports betting operation was the group’s fastest growing area, with the £314m earned representing growth of 46% on the year.

Mobile is a particular strength of the operator, with mobile channels now taking an 82% share of overall revenue. The firm has seen a three-fold increase in the amount of mobile logins in the last three years.

Sky Betting & Gaming CEO, Richard Flint, highlighted the investment in product and technology as key to the company’s growth. Flint said:

We delivered innovative and market-leading products during the year, including an in-app RequestABet builder, real time promotions, crowd boosted accumulators, and personalised programmatic marketing. Protecting customers from harm, and providing a safe betting and gaming environment is critical to our success, and we continue to invest in more people and better processes to identify and protect vulnerable customers.Richard Flint, Sky Betting & Gaming CEO.

A fantastic year for Sky Betting & Gaming

The figures will be the icing on the cake of a strong period for the firm. Over the past year, 200 new jobs were created, bringing the number of staff to 1,253. Sky has also launched an operator in Italy and plans to do so in Germany in the near future.

In an effort to try to make sure things continue along the right path, Sky Betting & Gaming CEO, Richard Flint, wrote to the UK Chancellor, Philip Hammond, urging the Chancellor not to increase the amount of tax the sector currently pays in the upcoming Budget. Currently, the sector pays a 15% point of consumption tax which was implemented in 2014.

It’s great news for Sky, who also saw rival bet365 earn record revenues of £2.2bn over the same period.

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