William Hill revenue up as online continues to show momentum

William Hill. Pic: John Stillwell/PA Wire
William Hill. Pic: John Stillwell/PA Wire
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Betting giant William Hill said group net revenue for the 17 weeks to April 30, 2019, was up 2 per cent reflecting a year of transition in retail and online.

Online net revenue was up 8 per cent reflecting the contribution from Mr Green since completion of its acquisition at the end of January 2019, William Hill said.

CEO Philip Bowcock said: “Online continues to show good momentum as we focus on growing our mass market customer base, while Retail has begun to adapt to the new £2 machine gaming stake limit.”

“Just one year on since PASPA was overturned William Hill has doubled the sports wagering it handles in the US, seen record performances at the Super Bowl and March Madness, is live in all seven states to have allowed sports betting and expects to enter further states soon, with Indiana and Iowa the most recent states to pass bills to legalise sports betting.

“As anticipated enhanced customer due diligence measures impacted revenues in our Online business in the period, while gross win margins returned to more normal levels.

“There were record actives for Cheltenham and the Grand National reflecting positive underlying customer trends, and we expect that the Mr Green performance will drive further progress in Online performance later this year.

“The impact of the introduction of the £2 stake limit has been in line with our expectations. We are confident in our plan to manage this major change, and will update more fully at the half year.

“Our new advertising campaign featuring Anthony Joshua marks a step change for William Hill with the brand-led creative also integrating safer gambling messages. Through our Nobody Harmed ambition we remain focussed on setting the standards for the future and addressing public concerns and we are encouraged by continued industry collaboration in this area.”