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William Hill H1-2016 results

Friday August 5,2016 : DISAPPONTING H1-2016 RESULTS FROM WILLIAM HILL PLC
 
Online operating profit down 33 percent on revenue 3 percent lower, and overall group operating profits decline 16 percent.
 
The UK online and land gambling group William Hill plc has posted disappointing H1-2016 results in the wake of last months sudden departure of CEO James Henderson.
 
Characterising the first half as "challenging, interim CEO Philip Bowcock revealed that the companys key online vertical (it makes up a third of the business) had seen revenue dip 3 percent and operating profits decline by 33 percent to GBP 43.4 million, saying that this remained a priority in his measures to address the weak performance.
 
"We have taken considerable steps forward in executing on Onlines improvements but there is still a way to go," he said on Friday.
 
Other items in the report included:
 
* Net revenue up slightly at GBP 814.4 million;
 
* Group operating profit down 16 percent at GBP 131.1 million;
 
* Online operating profit down 33 percent at GBP 43.4 million;
 
* Pre-tax profit up 28 percent at GBP 100.7 million, largely due to exceptional costs booked last year after restructuring the business and revamping its digital operations;
 
* Adjusted earnings per share down 16 percent at 10.5p;
 
* Dividend unchanged at 4.1p;
 
* Management still expects to meet its Full Year profit guidance of GBP 260 - GBP 280 for 2016 (FY 2015 - GBP 291 million);
 
* Positive Euro 2016 football results (a GBP 36 million gross win) helped offset losses incurred by unfavourable horse racing results such as the Cheltenham Festival;
 
* Profits up by 4 percent in Retail, which makes up around half the business across William Hill’s 2,300 betting shops, to GBP 94.4 million;
 
* William Hill’s US division delivered a 49 percent growth in operating profit;
 
* Deep losses in the groups Australian business, which experienced a 60 percent dive in operating profits to GBP 3.9 million despite a 12 percent growth in turnover...the subsidiaries Down Under contribute 6 percent of group sales;
 
The group is currently the target of a joint 888 Holdings - Rank Group GBP 3 billion acquisition attempt (see previous InfoPowa reports) with a share price that has declined 22 percent since the beginning of 2016.
 
Bowcock identified specific areas that require focus going forward: a digital business turnaround, improving the group technology roadmap, increased corporate efficiencies and expanding international growth.
 
“While the first half of 2016 has been challenging, William Hill is a strong business with three of our four core divisions performing well," Bowcock said in a statement Friday.
 
"Our Retail business is robust, the US operation continues to grow rapidly and the core metrics in Australia are moving in the right direction.
 
"We have taken considerable steps forward in executing on Online’s improvements but there is still a way to go. The refocused team has delivered substantial upgrades to the mobile Sportsbook customer experience, which is now back to competitive levels.
 
“Our recent investment in NYX / OpenBet and acquisition of Grand Parade further accelerate our ability to innovate at speed and enhance the customer experience moving forward.
 
“Looking ahead, our immediate priorities are to continue the recovery in Online, to leverage our technology improvements across the business and to advance a focused approach to international growth.
 
"Trading is in line with our full-year expectations and we have a strong team in place to deliver on the opportunities before us and to improve the business for the long term. In addition, we see opportunities to benefit from increased efficiencies in certain areas of the business.”

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Gambling News :

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

Secret Symbol Slot - RTG will soon release 'Secret Symbol', a 5 Reel Video Slot on 3/15/2017.

Microgaming is set to release three exciting new games in March - Pollen Party will literally have players buzzing with excitement as the ground-breaking, 720 way variable reel online slot is brought to life in a unique honeycomb reel layout.

NBA Odds: Resurgent Clippers Face Warriors in Oakland - After a much-needed lineup shuffle, the Los Angeles Clippers (29-27 SU, 35-21 ATS) carry a four-game SU and ATS winning streak into Thursday’s game against the best team in the NBA, the Golden State Warriors (47-9 SU, 27-27-2 ATS). Tip-off is at 10:30 PM ET on TNT.

NBA Odds: New-Look Pelicans Host Rockets on Thursday - The New Orleans Pelicans just hosted the All-Star Game and saw their very own Anthony Davis win the MVP. But the celebration was brief because the next day, the Pelicans made a huge trade,

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republic’s new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

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