In the United States, sportsbooks like FanDuel and DraftKings have a strong grip on the market. However, some smaller operators are still trying to build their brand into a successful one. That’s true for the global sportsbook bet365. Recently, the company announced its financial results for 2024, which ran from April 2023 to March 2024. According to their figures from last year, Chief Executive Denise Coates took a pay cut.
For the fiscal year 2024, the highest-paid director at bet365 took home ($118 million). That was compared to ($227 million) in 2023. Reports also say that Denise Coates received ($79 million) in dividends. Coates took a pay cut so bet365 could become profitable again in 2024. The company’s pre-tax profit was ($747 million). In the 2023 fiscal year, bet365 saw losses of $91 million. Betting and gaming revenue increased 9% to hit a total of ($4.67 billion). Revenue for betting increased 11% year-over-year thanks to the opening of new markets.
Expanding to the United States has been invaluable to bet365
As of the start of 2025, bet365 is available in 11 states. They include Arizona, Colorado, Indiana, Iowa, Kentucky, Louisiana, New Jersey, North Carolina, Ohio, Pennsylvania, and Virginia. In a press conference, bet365 owner Denise Coates acknowledged that US expansion has taken the company to another level.
During the 2024 fiscal year, bet365 has invested heavily in the American platform. Through a deal with Casino Queen Marquette, bet365 launched in Iowa in June 2023. In September 2023, we saw bet365 open for business in Kentucky. Bet365 is partnered with Sandy’s Gaming and Racing in the Bluegrass state.
At the start of 2024, bet365 received its license from the Indiana Gaming Commission. This came after they agreed to a deal with French Lick Resort. In February 2024, bet365 went live in Arizona. They signed an agreement with the Ak-Chin Indian community to receive a license from the Arizona Department of Gaming. North Carolina launched in March 2024 and Pennsylvania launched in July 2024. However, that was technically part of the 202 fiscal year.
Bet365 has opened a headquarters in the U.S.
In September 2024, bet365 opened a new U.S. headquarters in Denver, Colorado. When the HQ first launched, bet365 announced that 50 people were already working for the company. They announced plans to hire more than 300 employees in 2024. The Colorado Economic Development Commission granted bet365 a tax credit of up to $14 million. This was based on job creation over eight years. Their end goal is to have roughly 1,000 employees.
