This decline, in turn, was more than offset by a 25% increase in Gaming revenue, “thanks to the improvement in the gaming product offering. In this period, the number of active clients increased by 48% (2021: increase of 13%).”
Administrative expenses experienced a year-on-year increase of 319.5 million pounds, "due to the significant costs associated with the diffusion of the brand in new markets and the continuous investment in infrastructure and information technology."
Personnel expenses also increased in the company, given the growth of the workforce, with 6,092 employees (with 5,443 in 2021) in the area of Sports, Gaming and associated support operations, "although this was offset by a reduction in the directors' compensation of £57 million.”
Likewise, the Group has made important charitable donations, reaching a total of £100 million during this financial year to the Denise Coates Foundation.
As a consequence of all this, operating profit decreased year-on-year to £15.4 million (while in 2021 it amounted to £285.5 million).
A striking fact is that the Group's profit this year was £49.8 million, while in 2021 it amounted to £469.3 million, which represents an almost 90% drop, mainly due to expenses previously mentioned such as the costs associated with the diffusion of the brand in new markets and the continuous investment in infrastructure and information technology.
Source: GMB
