Online gaming boosts William Hill
William Hill plc has seen its turnover increase by 6% on the previous year due to the growth and strength of its online trading.
Online net revenue grew 28% to £321.3m and over-the-counter sales saw a rise of 1%, contributing £789.7m overall. Group revenue also grew, from £1.07bn to £1.14bn, in spite of Hill’s increasingly troublesome relationship with its Israeli partner and software provider, Playtech, who are a minority shareholder in William Hill Online.
In February, William Hill were forced to take out an interim injunction to prevent Playtech from selling its 29% stake in Hill’s online operations.
Although 92% of Hill’s revenue was generated in the UK last year, chief executive Ralph Topping said the group would continue to place emphasis on expansion overseas.
“There are more opportunities to expand internationally beyond our traditional roots as more governments open up their regulated gambling markets,” Topping told The Financial Times. “We will, therefore, seek to invest selectively in taking our brand and our capabilities beyond the UK over the coming years.”
William Hill launched an Italian website last July and hopes to acquire three US sports-betting businesses in the next few months for a combined $55m.