William Hill cites ongoing growth in quarterly results
James Henderson, chief executive officer of William Hill, has cited the ongoing development of the bookmaker’s UK and international businesses as one of the main reasons behind a successful set of results for the 13 weeks through to September 30, 2014.
The bookmaker reported that group net revenue in the third quarter increased by 23% on a year-on-year basis when compared with the corresponding period last year.
Revenue generated from online operations jumped 55% in the period while the firm’s retail and Australian businesses increased by 9% and 17% respectively.
Elsewhere, the firm also recorded a significant jump in operating profit, which grew by 89% in comparison with Q3 of 2013.
William Hill’s Australian business posted a 384% increase in operating profit, the firm’s online operation rocketed by 126% and its retail arm grew by 31%.
The firm also noted that mobile wagering was up 38% in the period while revenue generated from mobile gaming activities was up 116%.
In addition, US wagering activity was up by 21% and mobile growth jumped by 88%.
Speaking about the results, Henderson said: “The group performed strongly in Q3 driven by both favourable sporting results and the continued development of our UK and international businesses.
“The period saw good gaming growth in both major channels and sports net revenue growth significantly boosted by a favourable year-on-year swing in win margin.
“Positive sporting results in the quarter, including a strong end to the World Cup, have moved us close to or ahead of normalised gross win margins on a year-to-date basis.”
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