This story is sponsored by Bet365 Casino
Pictured: Denise Coates, Bet365 CEO.
Denise Coats, the CEO of the online gaming company Bet365 recently sat down and discussed the success of 2011 and looked, vaguely, toward 2012 giving us an insight into what goes through a CEO’s mind.
The beginning of 2011 had industry insiders worried about the success of online companies, but Coates’ says that overall it was profitable and it turns out, any worries were much ado about nothing. When told it was the toughest year for Bet365 on record, Coates countered by saying the company “had a decent year financially.” She went on to say that people shouldn’t get her wrong and that while the year was challenging, every year is challenging to some extent.
Bet365 is well known for its casino games, but Coates claims the launch of their new in-play sports betting site was a big coup for the company and that they view their sports betting sector in an esteemed light; it’s very important to them and an imperative to drive it forward. You may head to Bet365 for the poker, but it may be time to encourage your punter friends to join up too.
She went on to talk about the company’s relationship with their software provider, Playtech. Apparently another betting giant, William Hill, had issues with Playtech in 2011, but Coates says there were no such problems with Playtech and Bet365. She calls them “a valuable partner” and a “pure software provider.” There are no changes in the future for the dissolution of that partnership.
Coates explained that right now Bet365 is focusing on their existing markets, but doesn’t rule out venturing into new territory in the future. She admires what Paddy Power has been able to do in Australia and the value that was created with their specific strategy. She praised Denmark and Spain for for their new online gambling models saying that the countries have opened themselves up to outside competition, which is greater for the industry on the whole.
The state of the US’s gambling laws have many online gambling companies getting excited, making deals and helping to lobby for reform. But Bet365 is not one of them. Coates only says that they’ve made no moves to get into the potential market there but “are watching developments with interest.” She did say that if a large state were to regulate their online laws, Bet365 would look into it.
Overall, it looks like they’re going to stick with what’s been working for them in terms of territory and software, as well as look to get further into the sports betting market. Like any large business, growth is the word of the day.
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