Online revenues boost for William Hill plc

In its report Tuesday on the 17 weeks of 2017 ended April 25, William Hill plc has flagged an encouraging 16 percent year-on-year improvement in online revenues following improved interface and product development that has attracted more punters.

The company also flagged the following highlights of the period:

* Group total net revenue was up 9 percent, with the strongest increase coming from Australia;

* Net revenues rose 41 percent in Australia and 19 percent in the US over the period;

* Retail and U.S. total net revenue grew by 1 percent and 19 percent respectively;

* Amounts wagered online by punters jumped 11 percent in the UK over the 17 weeks, although the company experienced mixed sporting results, with a strong year so far for horseracing but football returns lower than expected;

* The company is braced for an expected hit of around GBP 5 million to its online arm this year from the new 10 percent levy on its UK horseracing gross win to fund UK horseracing;

“Overall, we are in line with market expectations for 2017,” the bookmaker said in a press statement Tuesday, adding that efforts to boost its online business continued to pay off after the group launched a new Android app and desktop site, while it saw a 24 percent leap in new accounts set up across the key Cheltenham and Aintree horseracing festivals earlier this year.

Philip Bowcock, chief executive of William Hill, said: “It has been a positive start to the year for William Hill across the board. Our online business continues to deliver growth thanks to the improvements in product, user experience and marketing we have made.”

Bowcock revealed that William Hill is on track to make annual savings of GBP 40 million by the end of 2017 to reinvest in the business as part of an overhaul. This initiative includes the delivery of a global technology platform as it looks to catch up with rivals in the online betting market.

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