Annual revenues have soared to more than £500m following a landmark year for tech firm Sky Betting & Gaming.

The Leeds-based online gambling business generated group turnover of £516m in its latest financial year, an increase of 38 per cent from £374m a year earlier.

Customer numbers grew from 1.95 million to 2.6 million during the 12-month period.

The firm also enjoyed a 38 per cent hike in earnings before interest, tax, depreciation and amortisation (EBITDA) to £146m.

Sky Betting & Gaming said more than 80 per cent of total revenues were generated from mobile devices.

“The business performed very well in 2016/17, with further investments in product, technology and brand delivering strong financial results,” said chief executive Richard Flint.

“During the year, we invested in people and technology in our Yorkshire base, with a 40 per cent increase in headcount, helping us to cement our position as the UK’s most popular online betting brand."

Sky Betting & Gaming was formed in 2001 and now employs a team of 1,300 employees across offices in Leeds (headquarters), Sheffield, London, Rome and Munich.

It has expanded internationally into Italy with the launch of skybet.it and has plans to do the same in Germany.