Sky Betting & Gaming Plans International Expansion amid Massive Revenues Growth

The UK-based gambling company Sky Betting & Gaming which is currently the owner of the SkyBet gambling website has revealed that it plans to primarily focus on its global expansion in 2017. This happens at a time when the operator is enjoying a stable growth in the UK which has pushed it in a search for new revenues flows.

Sky Betting and Gaming was officially established in 2001 as a subsidiary of the Sky brand focused on the gambling industry in the UK. To date, Sky still holds a 20% stake in the company after the controlling stake in the operator was acquired by the private equity firm CVC two years ago.

The bookmaker has revealed a massive growth in its 2016 annual results, which have pushed it towards considering various strategies for seeking future expansion internationally. According to the information revealed by the company in its full year results, its group revenues had increased by 51% in comparison to the previous year’s result, reaching £373 million in the 12-month period ending June 30th. The group revealed that its revenues increased from £247.5 million in the 2014/15 fiscal year to £373.6 million for the last 12 months ended in June. It did not provide any information about its profit over the period.

The Chief Executive Officer of Richard Sky Betting & Gaming Richard Flint commented on the gambling operator’s performance, saying that the last 12 months had been excellent for its operations. He also shared that the massive increase of the company’s results over the 2015/16 fiscal year has been helped by a variety of factors. Moreover, the company’s CEO explained that the group had proceeded to follow its investment strategy for its mobile and technology platforms.

As mentioned above, Sky Betting & Gaming is seeking expansion on a global scale, and it has set its focus on Italy and Germany, especially considering the fact that two years ago Sky Italia and Sky Deutschland were acquired by the UK-based media and telecommunications group from 21st Century a couple of years ago. In addition, this August the company made its official debut in the Italian market with the launch of its “Super 6” product. According to the gambling group, the acquisitions would pave the path of the company to further acquisition deals on the territory of Europe.

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Olivia Cole

Olivia Cole has worked as a journalist for several years now. Over the last couple of years she has been engaged in writing about a number of industries and has developed an interest for the gambling market in the UK.
Daniel Williams
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