William Hill Online revenues climb 6% on strong gaming growth
Operator’s online gaming business the standout performer with a 14% revenue rise as sportsbook business falls 1%
William Hill this morning reported a 6% year-on-year rise in Online revenues in the 17 weeks to 24 October 2017 after double-digit gaming growth helped offset a fall in sportsbook revenues.
Online gaming growth was up 14% in the H2 to date period, while sportsbook net revenue was down 1% year-on-year after an 0.8% lower gross win margin of 7.6%.
Meanwhile, sportsbook amounts wagered was up 13% in total and up 14% in the UK.
“Our Online business has performed particularly well, with UK wagering 14% ahead of last year, in spite of the absence of a major football tournament, and an acceleration in gaming growth,” Philip Bowcock, William Hill CEO, said.
William Hill’s Australia-facing business reported a 2% fall in net revenue during the period, with the operator describing the market as “challenging” in light of the credit betting ban and potential nationwide Point of Consumption Tax.
However, William Hill US continued to perform strongly with a 33% rise in amounts wagered leading to a 28% year-on-year increase in net revenue.
“Internationally, our US business continues to deliver strong double-digit net revenue growth and Australia’s gross win margin has normalised relative to H1,” Bowcock said.
He added: “We look forward to the US Supreme Court’s hearing on PASPA on 4 December and its decision next year.
“As the largest operator of sports books in Nevada and with our 80-plus year heritage in the UK, we are actively engaged in helping sports bodies, regulators and other interested parties to understand the benefits of having a licensed and well-regulated US betting industry.”
William Hill group revenues increased 4% year-on-year, while its retail business was up 3% despite a 1% fall in sportsbook amounts wagered.