$ £

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."

Related casinos

NoWilliam Hill Casino40Gibraltar, U.K.40