Sky Betting & Gaming revenues up 51% as customer value soars
Leeds-based firm targets international expansion following rapid growth across KPIs
Sky Betting and Gaming (SB&G) has this morning reported a 51% rise in revenues to £373.6m for the year ended 30 June 2016, with major growth across all reported metrics.
Betting accounted for 57% of overall revenues, with the vertical growing 64% to £214.1m, while gaming grew 36% to £159.5m.
The Leeds-based firm hailed the benefits of its technology investments, as mobile accounted for 75% of total revenues, up from 65% a year ago.
Likewise, average customer value jumped 15% to £192, with the total number of customers up a third to 1.95 million.
“2015/16 has been another excellent year for the business and we are pleased to have delivered this strong performance despite some unprecedented pay-outs including an extremely generous Cheltenham Festival offer and a pay-out of around £5m on Leicester City winning the Premier League,” Richard Flint, SB&G CEO, said.
“We have continued to invest in both our technology and mobile platforms from our base in Yorkshire and our Super 6 product has successfully launched in Italy since the period end. Our strong momentum has continued into the current financial year and we are excited about the opportunities ahead both in the UK and internationally.”
In the last month, the firm has been ramping up its international expansion efforts, with the beta launch of SkyBet.it and the appointment of former Deutsche Telekom director, Jochen Weiner, as managing director of its new Sky Bet Deutschland business.
The company is also expected to float at some point in the next few years, with an estimated valuation of around £1.5bn.