End of Premier League season dents William Hill profits

A strong end to the Premier League season from London clubs Chelsea, Arsenal and Tottenham helped dent profits at William Hill in the first half of the year.
Chelsea manager Antonio Conte with the Premier League title. A strong end of the season for London clubs dented William Hill's profits. Photo: Mike Egerton/PA Wire.Chelsea manager Antonio Conte with the Premier League title. A strong end of the season for London clubs dented William Hill's profits. Photo: Mike Egerton/PA Wire.
Chelsea manager Antonio Conte with the Premier League title. A strong end of the season for London clubs dented William Hill's profits. Photo: Mike Egerton/PA Wire.

The bookmaker reported an 11 per cent fall in pre-tax profits to £109m in the six months to June 28, while revenue grew 3 per cent to £837m.

On an adjusted basis, operating profit fell 1 per cent to £129.5m.

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The group said “unfavourable” football results in the later stages of last season - including champions Chelsea winning six games in a row - were partly to blame for the profit fall.

Punters also cashed in at the firm’s expense when Spurs and Arsenal notched up victories in five out of six games at the end of the season.

Philip Bowcock, chief executive at William Hill, focused on the rise in revenue and the group’s online performance.

He said: “The first half of 2017 has seen good progress against our three strategic priorities and wagering growth across all four divisions.

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“We are seeing good momentum building in online’s performance. In retail we made market share gains, with growth in both sports betting, despite the lack of a major international football tournament, and gaming revenues.”

The company has also seen a surge in betting on women’s sports recently.

There has been a record £3m wagered on the ICC Cricket World Cup - an increase of 90 per cent - and if England get to the final of the Uefa Women’s Euro 2017 football championship, William Hill expects more than £3m in stakes - up 100 per cent.

William Hill is a major employer in Yorkshire, with more than a fifth of its global workforce in the region.

The bookmaker employs 1,300 people in Leeds alone.