William Hill cites online and US success as growth continues
William Hill has said ongoing growth within its online and US divisions helped to drive an increase in key financials during the 17 weeks to April 24.
Group revenue, excluding discontinued operations during the period, was up 3% on a year-on-year basis, with strong performances by Hill’s online and US businesses slightly offset by a decline in UK retail revenue.
Total net online revenue for the period was up 12% year-on-year, despite an 8% drop in amounts wagered via sportsbook, while US revenue hiked 45%, with a 17% increase in sportsbook wagers.
Retail revenue fell 4% year-on-year, with sportsbook wagers down by 13%.
Hill noted that its discontinued Australian operation, which it sold to CrownBet Holdings last month, saw revenue drop 22% in the period.
With the Australian business included, group revenue was only up by 1%.
Philip Bowcock, chief executive of William Hill, said: “William Hill has had a positive start to 2018, making further progress against our strategic priorities to grow UK market share, drive international revenues and deliver key transformation projects.
“Continued momentum in online and strong growth in the US have driven a good performance during the period.
“In the UK, an unprecedented run of bookmaker-friendly sporting results led to unusual wagering and gaming trends, which we expect to normalise over time.
“The sale of our Australia business has further strengthened our balance sheet.
“While we await the outcome of the UK Triennial Review and the Supreme Court’s decision on US sports betting legislation, we remain focused on continuing to deliver a great customer experience, particularly ahead of this summer’s World Cup.”
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