Online Performance Boosts William Hill Revenue
UK-based bookmaker, William Hill, which has been underperforming in their online business for the past few years has announced in a trading statement to the London Stock Exchange on November 14, that they have returned to growth.
The company now remains on track to reach its 2016 financial forecasts with a 6 percent increase in group net revenue from the same time last year and an 8.4 percent increase in online revenue. Average revenue per customer grew significantly, by 16 percent in H2.
“In this period, we have continued to focus on online’s turnaround, identifying efficiencies and international growth,” announced Philip Bowcock, interim chief executive of William Hill. “Online has returned to wagering growth in the UK following significant enhancements to our mobile sportsbook in Q2 and we are making good progress on the gaming and user experience improvements in H2, further helped by the Grand Parade team we acquired in August. We will complete the heavy lifting on online’s changes in Q1.”
In addition to the improvements in online, William Hill has seen growth in their key markets around the world. Their markets in the UK, Italy and Spain experienced 2 percent revenue growth during the 17-week period, with revenue in Australia and the US increasing by 59 percent and 81 percent, respectively.
“In a tough market, the Australian business is benefiting from our in-house technology, which allows us to bring customers innovative new products more frequently than our competitors,” said Bowcock.
The company is looking ahead to further growth in 2016, starting with the appointment of three non-executive board members – John O’Reilly who was managing director at Coral Interactive, Mark Brooker who was chief operating officer at Betfair and Robin Terrell who was chief customer officer at Tesco PLC.
March 23, 2017