Bet365, the renowned bookmaker is set to expand and create well over 500 jobs in what is believed to be million Pound expansions. Sources reveal that the company is all set to shift base to Etruria from its old office in Festival Park.
The company has submitted a new plan to come up with a multi storey building by knocking down its old office. The gambling giant, which is already 2,200 strong in terms of workforce, will be able to accommodate more than 600 people in the coming decade.
The new office, which has an estimated office space of 1,300 metre square, is double of the old office that the company had at Forge Lane. In an exclusive bite to a journalist, the CEO, Denise Coates was found excited when he mentioned that the company is extremely proud to become the largest employer of Stoke-on-Trent. Coates believe that this is not only good news for the company, but it is also great news for the city as well!
The CEO also went on to mention that Bet365 contributes a significant amount to the economy by contributing over £80 million in wages of its staff. The new office building and the new hiring will ensure that the company keeps adding value to the economy.
This expansion will also be beneficial for its other businesses. He also said that the company has reached a stage where they have more employees and inadequate office space to sustain the growth, which is likely to happen in the immediate future. This will help the company cope up with the growth in terms of office space and employee strength.
According to latest figures revealed by the company, Bet365 grew at an astounding rate where the pre-tax income of the company stood at approximately £180 million. This is a flat 50% growth as compared to its previous year.
With the latest expansion, the company is set to increase its revenue figure at the same margin if not more in the coming few years. The overall profit before tax of the last financial year was actually £38 million more than the last year.
Out of the total amount, around 30 million was passed on to Stoke city, which incidentally is the sister-concern of Bet365. Figures also highlighted that approximately a stunning £20 billion got wagered last year and that the active customer base of the company stood at more than two million-a great achievement for a bookmaker!
Sources reveal that the new office will be unveiled by early 2016 and at the same time the demolition of the existing building will be initiated from next summer. There is also a possibility that the old office could be sold off or put on rent. This bit of news has received thunderous applause from the local business community.
The Central MP of the city welcomed the new move from the company and said in a statement that the company has always been dedicated to the city and its growth.
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