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William Hill Sees Profits Decline In Third Quarter 2013

UK betting firm William Hill plc has released its third quarter 2013 financial results, noting a 28% decline in digital profits.

Key financial indicators for the period ending October 1st were:

  • Sportsbook wagers up 42% over the same period last year.

  • Mobile sports wagers up 115%.

  • Football wagering up 49%.

  • Mobile gaming net revenue up 126%.

  • Mobile gaming accounted for 18% of company net revenue

  • Group operating profit down 31% or £24 million.

Commenting on his company's performance, William Hill CEO Ralph Topping noted: “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."

“Our intensive attention to the development of mobile online continues to yield results, generating 41% of wagering in sportsbook."

"During this quarter, results were not as favorable 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 normalized expectations in Sportsbook."

"Additionally, we saw a disappointing Retail performance in July. However, football wagering in Retail has grown in Q3 and the rollout of our new Eclipse gaming machine has begun."

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