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

earnings improved by online wagering

19 April 2013
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William Hill said a strong efficiency in online betting helped to enhance its very first quarter operating revenues by 8%.
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More sporting bets were made online than in its betting shops, with an increasing number placed through its mobile apps.
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The company stated, external that although it had a poor 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 actually remained in the quarter finals given that 1996.
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As such, while the yohaig code amount paid to winning bets at the Cheltenham Festival was higher, the money punters positioned on English teams to progress to the Champions League quarter finals and beyond all went into William Hill's coffers.
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The company stated it had also enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has been a successful start to 2013 in trading terms", stated 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 considerable investments in marketing, technology and individuals to achieve that," he added.

On Monday, competing bookmaker Ladbrokes warned that trading had been worse than expected in the first 3 months of the year.

The company blamed a drop in make money from the Cheltenham Festival and lower incomes from high value bettors. It added that a high variety of cancelled meetings, due to the fact that of the extreme winter season, had likewise impacted its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects remain in plain contrast to the troubles currently being dealt with at Ladbrokes.
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"There are, obviously, headwinds, such as the fierceness of competitors in the sector and the usually pushed consumer, but these are obstacles which the whole industry is dealing with," he included.

Ladbrokes warns on slower trading

15 April 2013