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William Hill Earnings Report
4/29/10 - The internet operations of UK gambling group William Hill plc have once again provided a boost to group revenues against a backdrop of a 4 percent decline in land-based betting shop net revenues.
The gambling group published Q1 2010 key performance indicators, showing group net revenue up a scant 1 percent and EBIT up by 3 percent - due largely to a welcome surge in the bookmaker’s e-gaming division.
Online activities were again an important driver of growth, with net revenue up by 25 percent compared to the first quarter of 2009. William Hill Online – a joint venture with Playtech plc - increased new accounts by a creditable 31 percent and lifted operating profit by 51 percent.
This first quarter delivered a particularly strong performance in online sports betting, with the group’s Orbis-powered sports book platform and in-running betting product contributing to sports’ net revenue growth of 79 percent, due to both higher volumes and an expanded margin of 8.1 percent, up from 6.6 percent in Q1 2009.
Online casino and bingo grew 11 percent and 53 percent respectively, although the bookmaker struggled in a tough and competitive online poker environment which saw net revenue fall 11 percent.
Online EBIT was GBP 23.3 million.
Commenting on the Q1 performance, chief executive Ralph Topping said: “I am satisfied with our performance this early in the year, with an improvement shown in overall retail turnover levels and good growth from William Hill Online in revenues, operating profit and new accounts.
“We have much to look forward to this summer with interest in the World Cup expected to be greater than ever. Kick-off times in South Africa are favourable for our UK and European customer base and we have experienced sustained growth in football betting since the last tournament.
“We continue to maintain a watchful eye on costs and are making significant investment in growing our international online business. I am confident that we are on track to achieve our objectives for this year.”
William Hill’s retail [land] operations fared less well with net revenues down by 4 percent. Gaming machines turnover rose 9 percent, but the OTC gross win percentage fell sharply compared with last year. Gross win fell by 11 percent with operating profit down 13 percent.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgaming’s customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sunday’s 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at –115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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