Business News

Betfair said Wednesday that it is starting to make significant progress towards meeting its strategic objectives, with the operator's focus on sustainable markets showing signs of success with revenue from regulated territories now accounting for more than three-quarter of its total.

In its results for the financial year ended April 30th, revenue from the company's licensed operations in the UK, Ireland, Denmark, Malta, Gibraltar and US grew by 9 per cent, with growth across each product vertical, while revenue from other markets fell 18 per cent year-on-year.

"Our strategy is working,” said chief executive Breon Corcoran (pictured), as he reiterated the company's confidence in the strategic plan implemented in 2012. “The emphasis on sustainable revenues and our product and marketing investments are paying off, resulting in record revenues and profits.”

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