Online gambling boosts William Hill’s profits
The company is best known for its chain of 2,370 betting shops in Britain, but is expanding overseas and like has a growing online and mobile business.
Chief executive Ralph Topping said online was delivering outstanding growth and that mobile was also outperforming expectations.
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Hide Ad“Our rapidly growing mobile business increased to 22 per cent of our online sports betting turnover and 11 per cent of gaming net revenue in the first half,” said Mr Topping.
“With further innovation to come, the group is in good shape and the board remains confident of its expectations for the full year.”
Favourable results at key events such as the Grand National and the Cheltenham Festival also helped revenues climb 11 per cent to £627.8m in the six months to June 30.
The online business saw profits rise 23 per cent to £68.9m after a 30 per cent jump in revenues.
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Hide AdWilliam Hill generates more than 90 per cent of its revenues in Britain but is seeking to expand overseas where markets are liberalised.
It recently completed the acquisition of three US businesses in the state of Nevada and is one of a number of companies to take licences in Spain in June.