William Hill Sees Revenues Jump In First Quarter

UK based gambling giant William Hill released its first quarter 2012 financial results on Friday, highlighting strong online numbers with a big jump in the sportsbetting sector.

Key financial indicators for the period were:

• Revenues up by 12% compared to the same period last year
• Online net revenue up 33%
• Retail net revenue up 5%
• Operating profit up 19%
• Mobile sportsbook downloads up to 190,000 with 30% of those new William Hill clients.
• Operating profit up 19%
• Sportsbook net revenue up 58%
• Amounts wagered up 31% in sportsbook with the win margin at 8.8%, up from 7.3% in 2011
• Debt at £355, down from £416 on December 27, 2011

Commenting on his company's performance, William Hill CEO Ralph Topping said:

"I am pleased by our strong performance in the first quarter, said chief executive Ralph Topping. "Sportsbook wagering grew by 31%, OTC wagering saw underlying growth after taking into account adverse weather during the quarter and sports results contributed to a strong margin."

"Our investments in marketing and innovations continue to deliver benefits, with our Sportsbook exceeding £50 million in turnover in a single week for the first time during the quarter and mobile turnover reaching almost £11 million in a single week."

"Our mobile performance is now benefitting from our Sportsbook app being available in the Apple App Store, giving us access to thousands of new customers who have never bet with William Hill before, highlighting the growth potential of these new channels and their importance to our multi-channel offering."

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