BUSINESS

Sky Betting & Gaming credits revenue surge to tech spending, sports and mobile

TAGs: Sky Betting and Gaming

sky-betting-mobile-gamblingUK online gambling operator Sky Betting & Gaming reported revenue up more than one-third thanks to a dramatic uptick in sports betting.

In figures released on Tuesday, the company said revenue rose 36% to £247m in the 12-month period ending June 30, 2015. Most of this gain came via the sports betting vertical, which improved 56% to £117m, while gaming revenue rose 20% to £117m. The company’s Oddschecker division added revenue of £13m (+30%).

The Leeds-based company’s customer ranks swelled to 1.48m in the period, while average revenue per customer increased by one-third.

Sky Betting & Gaming CEO Richard Flint credited his company’s in-house development team for turning the group’s mobile platform into a money machine. Mobile channels accounted for 80% of Sky Betting revenue and 57% of Sky Casino and Sky Vegas revenue.

The company claims it boasts one of the strongest mobile revenue rates in the fiercely competitive UK market, which Flint offered as further justification for the sums spent on enhancing its technology over the past fiscal year. Flint vowed to go on spending on technology – including hiring hundreds more staff – to ensure the good times keep rolling.

Sky Betting & Gaming was further honored last week as the only gambling company to make the Sunday Times 100 Best Companies to Work For list. The company ranked #94 on the list and received special recognition for its Tech Ninja Fund, which provides the 400 members of its technology team with £1k each to spend on career and skill development.

Brand & HR director Rob Painter celebrated the “fantastic achievement” of making the Sunday Times list despite the company having only existed as an independent entity for 11 months. CVC Capital Partners acquired an 80% stake in Sky Betting & Gaming from parent company BSkyB last March.

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