Mobile gaming pays off for William Hill but profits take a hit
Football results have hit William Hill’s profits, despite seeing a 42% increase in mobile betting.
The company, which employs more than 3000 people in Yorkshire of which 1300 work out of its head office in Leeds, is hoping for more draws in the football to put it back on track.
The interim results revealed a massive increase in mobile wagering through Sportsbook, up 115%, while mobile gaming net revenue increased 126%. This means that mobile now accounts for 18% of its gaming net revenue.
“Online Sportsbook staking growth goes from strength to strength, with growth in football wagering accelerating at the start of the new season driven by increased products, successful marketing and a strong focus on our prices and offers ahead of a World Cup year in 2014,” said chief executive, Ralph Topping.
“During this quarter, results were not as favourable as in the comparable period, with outcomes – particularly in football – going the punters’ way. Consequently, gross win margins are below the prior year in both major channels, and below normalised expectations in Sportsbook. It is of course important in our business to look through the impact of short-term results on trading.”
Group operating profit was down £24m, or 31% in the period, down 4% on the year to date.