Sky Betting and Gaming Revenues Increase by 30 Per Cent
On Monday, September 17th, the Stars Group published a financial report for their sports betting brand, Sky Betting and Gaming. The parent company of multiple poker brands and PayPal casinos acquired Sky Betting and Gaming in April this year. Now, the time has come to see how the newest member of the Stars family performed during the fiscal year that ended in June 2018.
Sky Betting and Gaming (SBG) reported total revenue of £670 million for the year that ended on June 30th. The betting sector had the largest contribution to that sum with £406 million. This sector also saw the highest revenue increase of 36.7% compared to betting revenues in 2017.
The betting net win margin was also higher during this fiscal year increasing from 8.7% to 10.5%. The main reasons for increased revenues were bookmaker-friendly sports results, as well as product enhancements and innovations. Some of the products that upped Sky Bet revenues include Soccer Saturday Super Boost, ITV7, and Bonus Time. The company also made withdrawals much faster thanks to its collaboration with Barclays.
Gaming revenues were up by 19.1%, banking £239 for the Stars Group. The Group said that launching exclusive content and strong marketing campaigns contributed to the growth of their gaming revenues.
“We enjoyed another year of growth, extending our leadership as the UK’s most popular online betting and gaming brand,” said Richard Flint, Chief Executive of Sky Betting and Gaming.
He added, “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.”