In Brazil, the company established legal representation through a subsidiary, HS do Brasil Ltda. Bet365’s reported figures for the 2020 financial year showed revenues of \u00a32.8 billion and a profit of \u00a3470 million before tax. The initiative was welcomed by a harm reduction group, but also received criticism for its perceived inadequacy; one MP described it as “a bribe to appease campaigners and the UK government”. In April 2016, the company became the new title sponsors for the club’s stadium for the next six seasons, replacing fellow local enterprise the Britannia Building Society. Bet365 chairman Peter Coates was also the chairman at Stoke City and in May 2012 bet365 signed a three-year contract with the club to become shirt sponsors.<\/p>\n