William Hill attributes strong revenue growth to United States division

18 May, 2019, 04:16 | Author: Regina Silva
  • Operator      William Hill gets no love from the ASA after Tinder ad ruling                   By Erin Gallagher

Online net revenue grew eight per cent, which was helped by the contribution of Mr Green, a Swedish online gambling business it acquired at the end of January.

Online net revenue was up eight per cent in the year up to April 30, reflecting the contribution from the acquired MR Green, with U.S. revenues up 48 per cent from operations in the seven states that have regulated sports betting. "T&Cs apply." This was followed by a link to download the William Hill app.

Chief executive Philip Bowcock had said in November that the U.S. business would turn profitable in three years.

United Kingdom bookmaker, William Hill, has reported that its strong momentum across the USA market has contributed to a rise in revenues for the group as detailed in a trading update for the unaudited 17 weeks to 30 April 2019. A new cap on FOBTs of £2 came into effect in April to counter problem gambling, replacing an earlier £100 limit.

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It added that Retail Sportsbook net revenue increased by 2%, with strong sports betting through the period, while gaming revenue was down 15% including the impact on machine gaming revenues of the £2 staking limit implemented on April 1.

'Just one year on since PASPA was overturned William Hill has doubled the sports wagering it handles in the USA, seen record performances at the Super Bowl and March Madness, is live in all seven states to have allowed sports betting and expects to enter further states soon, with in and Iowa the most recent states to pass bills to legalise sports betting'.

'As anticipated enhanced customer due diligence measures impacted revenues in our online business in the period, while gross win margins returned to more normal levels'. "We are confident in our plan to manage this major change", Bowcock said.

William Hill has removed its Tinder advert that all but shouts from the rooftops that users will get laid if they bring in the moolah from some well-placed bets, after the Advertising Standards Authority (ASA) told the company that it couldn't keep it up.

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