The British online betting giant Bet365, owner of Stoke City FC, has announced that it has completed a debt reduction amounting to £160 million. The Stoke-on-Trent based group has converted £40 million of shareholder loans into equity in Stoke City Holdings Limited and waived £120 million of shareholder loans. Bet365, the club's main shirt and stadium sponsor, proceeded with the debt cut with the long-term commitment to the club's financial health as the main driver.
John Coates, joint Chairman of Stoke City, stated: "Converting £40m of loans into equity and waiving £120m of loans greatly strengthens the club's balance sheet and also provides more long-term stability for the club. On the field, the last four or five years have not proved to be as successful as any of us would have hoped. However, our commitment to the club, its future success, financial sustainability and place at the heart of our local community remains as strong and focused as ever."
On a similar note, the Potters have made public a 20m five-year redevelopment program at the Bet365 Stadium and Clayton Wood training ground starting this summer. Around £4 million will be invested in facilities before the 2022/23 season, including the installation of 8,400 seats. Bet365 has bounced back strongly from Covid-19, reporting a steady revenue despite the total betting volume going slightly down.
Why choose Bet365
- Ideal for football lovers
- 150+ extra bets on top leagues
- Multiple Asian handicap markets
- Partial/Auto Cashout
- Bet Builder
- Edit Bet
- Speedy withdrawals
- Quick and secure mobile app
Bet365 needs no special introduction. Even the most amateur players know the immensity of the colossal bookmaker, which is popular for the great innovations it has brought to the betting world. The 20 million active customers speak on behalf of 365, nonetheless there are some ups and downs noted from me. On the downside first, the platform is quite confusing for the beginners. The bookmaker often limits sharp bettors or winning accounts, while the customer service could offer a much better support. On the other hand, Bet365 offers everything a player needs and dreams of. I love the odds, even if they are not the best you can find on the internet. For sure they are worse than Pinnacle’s, but better than those of William Hill or Bwin. The complete suite of features (Bet Builder, Edit Bet, Partial/Auto Cashout, Bet Alerts, Quickbet, Live Streaming) gives an uplift to your betting experience, while the in-play section is one of the best globally. In a few words, an account with Bet365 is a must for every player, and that is non-negotiable.