william-hill-profits-boosted-by-online-betting

William Hill revenues improved by online betting

19 April 2013

William Hill stated a strong performance in online betting helped to enhance its very first quarter operating profits by 8%.
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More sporting bets were made online than in its betting shops, with an increasing number put through its mobile apps.

The company said, external that although it had a bad Cheltenham Festival, it had better luck in the Champions League.
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It was the very first time no English football group had been in the quarter finals considering that 1996.
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As such, while the quantity paid to winning bets at the Cheltenham Festival was greater, the cash punters placed on English groups to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
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The firm said it had also enjoyed its best-ever result in a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has actually been a successful start to 2013 in trading terms", said chief executive Ralph Topping.

"Having grown our UK online market share from 10% to 15% over the last 4 years, we aim to increase our share and are making substantial financial investments in marketing, innovation and individuals to achieve that," he added.
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On Monday, competing bookie Ladbrokes warned that trading had actually been worse than expected in the very first 3 months of the year.
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The company blamed a drop in make money from the Cheltenham Festival and lower earnings from high worth bettors. It added that a high number of cancelled meetings, since of the yohaig code extreme winter season, had also impacted its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers are in plain contrast to the yohaig code troubles presently being faced at Ladbrokes.
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"There are, of course, headwinds, such as the fierceness of competition in the sector and the typically pushed consumer, however these are which the entire market is dealing with," he added.

Ladbrokes warns on slower trading

15 April 2013