William Hill saw strong online growth as the key contributor towards an impressive set of results. Net revenue for the company as a whole increased by 7% with profit before tax up by 23%. The online net revenue that hit a 23% increase compared with the previous year fattened up the group net revenue.
Ralph Topping, Chief Executive of William Hill, commented, “This is an especially strong set of results for William Hill in challenging economic conditions. The comparator period also included part of a World Cup that delivered a record result for us last year. I am pleased with both our online performance, which has been driven by outstanding Sportsbook growth and innovations in our in-play and mobile offerings, and the strength of our Retail business, which continues to benefit from the popularity of machines and the resilience of over-the-counter betting.”
By breaking down the online figures, it’s clear to see that the majority of the growth seen by Hills was in their sportsbook. Stakes were up 51% with turnover at a consistent £30m per week. Much like the rest of the online gambling industry, they had the mushrooming mobile gaming industry to thank for much of the rapid growth. Net revenue in this part of the business was up by a massive 600% to £3.7m as more and more consumers turned to their smart phones.
As ever in-play stakes increased, this time by 95%, and they accounted for 43% of total sportsbook stakes. The results reiterate the face that the land-based gambling industry increasingly has to rely on online. This is only going to continue as technology gets better and better.
