UK-headquartered online gambling operator Sky Betting and Gaming today announced its results for the year ended June 30, 2016. The company generated revenue of £373.6 million during the reviewed twelve months, reflecting a 51% increase from what had been reported for the previous fiscal year.
The substantial growth was attributed mainly to the operator’s sports betting division. Revenue from it was up 64% year-on-year to a total of £214.1 million. Apart from sports betting options, the gambling company also operates casino gaming options and online poker. Revenue from these totaled £159.5 million, reflecting a 36% rise from the fiscal year ended June 30, 2015. Sky Betting and Gaming also said that it saw the number of its gambling customers grow to 1.95 million, up from a total of 1.48 million from the previous financial year.
Based in Leeds, Sky Betting and Gaming was founded in 2001 as the gambling arm of major UK broadcaster Sky. In March 2015, private equity firm CVC Capital Partners purchased an 80% stake in the gambling company.
It has recently become clear that Sky Betting and Gaming is now focused on expanding its reach in Germany and Italy. The operator bought Sky Deutschland and Sky Italia from 21st Century Fox two years ago, a move that is believed to facilitate its entrance in the respective gambling markets. Italy and Germany have been the first international markets Sky Betting and Gaming has been eyeing as part of its growth strategy.
The gambling company is expected to officially commence operations in 2017. It has already begun to run tests in the two countries, with gambling options being available to a limited number of customers. It has also hired staff for its Italian and German divisions.
Richard Flint, CEO of Sky Betting and Gaming, said in an interview for the Financial Times, that his company will follow the same model it had used to establish itself on the UK gambling market. Mr. Flint pointed out that similarly to their relationship with Sky in the UK, their collaboration with Sky Deutschland and Sky Italia has proved to be successful so far.
The executive further noted that his company specializes in the provision of mobile gaming and that such offering will be made available to their customers in Italy and Germany. Mass market sports bettors, Sky Betting and Gaming’s primary gambling demographic, will, too, be paid special attention to in the two new markets the operator is set to enter.
