Betting operator Sky Betting and Gaming has seen a sharp rise in revenue by around a third to £670.5 million during the year ending June 30, 2018.
The figures were announced by the Stars Group on Monday and showed that the Group saw a 13 percent increase in betting activity, with customers staking £3.86 billion, on which there was a win margin for the company of 10.5 percent. As a result, adjusted earnings before tax rose 31.1 percent on the previous year.
The increase in money staked by customers appears to be due to product improvement and a string of favourable sporting results in the European sector of the business. 2018 has also seen several reorganizational changes within the group, including three acquisitions and changes to the company’s capital and corporate structure.
Responding to the positive figures, Richard Flint, the current CEO of SBG, said that it showed that 2018 had been a strong year all-round for the company:
“We enjoyed another year of growth, extending our leadership as the UK’s most popular online betting and gaming brand. We also continued our investment in brand, technology and people, and continued delivering innovative products that meet the needs of our customers, all of which we believe combined to drive strong operating results.”
Flint also said that the company had made progress in creating a safer gambling environment for Sky Bet customers and had also contributed to continued investment and job creation in Yorkshire.
The strong financial news comes at a time when Sky Bet is poised to market itself to a global audience, thanks to a recent merger with The Stars Group. The combined group is one of the world’s biggest betting companies and is already making inroads into the new US sports betting market.
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Andie Hughes is a UK-based freelance betting and gambling writer with over a decade of experience in the industry, having written for Betfair, ESPN, Boylesports, Sporting Life and various other popular betting sites. Contact Andie at email@example.com.