Online performance helps William Hill’s bottom line

Giant British online and land-based gaming giant William Hill has released its preliminary financial results for 2009 showing a four percent rise in net revenues to almost one billion pounds.

The London-based firm revealed that its net revenues for the 52-week period reached £997.9 million although earnings from its retail operations fell four percent year-on-year to £757.5 million.

The shortcomings of its retail division were somewhat erased by the performance of its William Hill Online operation, which saw revenues increase by 63 percent over the previous comparable period to £203.5 million, although the firm’s overall earnings for the twelve months fell seven percent year-on-year to £258.5 million.

William Hill called 2009 a ‘year of transformation’ as it integrated the assets acquired from Playtech into its Online division. In addition, the firm announced that it would shortly complete the roll-out of Storm cabinets throughout its land-based retail operation to deliver ‘state-of-the-art gaming machines’.

“In terms of 2009, the scale and breadth of our business ensured that we were well-placed to ride out the extra volatility in sporting results and the areas affected by the economy were counteracted by good growth in gaming machines and our improving online performance,” said Ralph Topping, Chief Executive Officer for William Hill.

“We have transformed key parts of William Hill in the last year. William Hill Online is almost unrecognisable from a year ago with highly competitive gaming products, proven marketing expertise and a sportsbook that has more pre-match and live betting products. Storm machines will shortly be available across much of the estate, giving us 22-inch high-definition technology to enhance the customer experience. In addition, we have addressed the balance sheet issues to leave us in a much stronger position.”