Hills posts double-digit hike in full-year online revenue
Continued growth in sportsbook and mobile contributes to 12% increase with market share in Italy and Spain also rising
William Hill has recorded double-digit online growth for the year ended 31 December 2013 as the operator reaps the benefit of taking full control of its digital business.
Online net revenue for year increased 12% year-on-year to £446.3m, up from £406.7m in 2012, while online operating profits rose 4% from £142.1to £147.8.
William Hill completed the acquisition of Playtech’s 29% stake in its online joint venture last April, a move the operator said had been crucial to its success in 2013 after it freed up capital to increase investment in William Hill Online.
“Our focused transformation of the Group over the last five years means William Hill is now one of the world’s leading multi-channel betting and gaming businesses, with revenues diversified through the rapid growth of Online and through careful expansion into selected international markets,” Ralph Topping, CEO of William Hill, said.
“The work of the last five years to expand our product range, improve our user experience, innovate with our mobile offering and invest substantial sums in the williamhill.com brand have made us a formidable online competitor,” he added.
Sportsbook continued to drive online revenues after recording 29% year-on-year growth to £212.9m in the 12-month period with mobile sportsbook now accounting for 39% of all sportsbook wagers in 2013.
Gaming net revenue failed to grow last year with casino up 1%, bingo down 2% and poker down 9%. However, following increased investment and product expansion, mobile gaming net revenues soared by 175% year-on-year to £40m.
William Hill also increased its share of the sportsbook and casino markets in Italy by 7% and 8% respectively, while in Spain it is now the third biggest sports betting operator by market share.
Although its core markets of the UK, Italy and Spain accounted for 81% of total online revenues, William Hill has also ramped up its presence in Australia after recording net revenue of £86.7m and operating profit of £12m.
In its full-year results William Hill described Australia as a “second home market” following the acquisitions of Sportingbet and TomWaterhouse.com during 2013.
The operator also announced the imminent launch of a new Sportingbet Australia website and the migration of TomWaterhouse.com onto the William Hill Australia platform.
William Hill’s share price was up 13p to 388p after early morning trading.
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