Ultimately, Britain’s prosperity depends on how the wealth our economy generates is shared,”<\/strong> said Luke Hildyard, executive director of the group, a think tank that focuses on reducing economic equality.<\/p><\/blockquote>\n“Pouring hundreds of millions of pounds more on top of billionaire fortunes every year isn’t a good way to maximize living standards, and it over-values the contribution that the super-rich have made,” Hildyard added.<\/p>\n
World Cup Boost<\/strong><\/h2>\nDespite a hit to profits, Bet365 reported a 19% increase in revenue from last year, up to \u00a33.39 billion (US$4.32 billion), fueled by betting on the 2023 World Cup in Qatar. Sports betting still generated the lion\u2019s share at \u00a32.65 billion (US$ 3.38 billion). Online casino gaming also grew 31% to \u00a3715 million ($912 million).<\/p>\n
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As ever, Bet365 declined to break revenue down by region, largely because it is believed to generate significant revenues from China, a black market. The company launched in several regulated markets in the U.S. during the 2022-2023 financial year, including Colorado, Ohio, Virginia, Iowa, Kentucky, and Louisiana.<\/p>\n<\/div>\n
\u201cEntering into new markets requires high initial investment. However, the directors remain confident that these markets will deliver a significant contribution to the group in future periods,\u201d the company said in a statement.<\/p>\n","protected":false},"excerpt":{"rendered":"
Big money spent on North American expansion saw Bet365 slip to a pre-tax loss of \u00a372.6 million (US$93 million), according to the company\u2019s latest filings. But it\u2019s not clear whether the company\u2019s publicity-shy CEO Denise Coates got the memo. She paid herself \u00a3270.7 million (US$345 million) in the year to March 2023, up from \u00a3213 […]<\/p>\n","protected":false},"author":36,"featured_media":305944,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,33810,19,1074],"tags":[82599,89402],"acf":[],"yoast_head":"\n
Bet365 Posts Loss Due to US Markets, CEO Coates Gets \u00a3270M<\/title>\n \n \n \n \n \n \n \n \n \n \n \n \n \n\t \n\t \n\t \n \n \n \n \n \n\t \n\t \n\t \n