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William Hill Operating Profits up

Friday August 2,2013 : ONLINE OPERATIONS BOOST WILLIAM HILL RESULTS
 
Double digit growth in online operating profits
 
On Friday British land and online gambling giant William Hill plc announced its interim results for the 26 weeks ended 2 July 2013 (H1 2013), comparing them with the first 26 weeks in H1 2012.
 
CEO Ralph Topping was able to boast significant strategic progress and continued momentum, with online and mobile operations delivering double-digit operating profit growth, expansion investment around the GBP 900 million mark...and new acquisitions worth GBP 459 million in Australia following the deal with Sportingbet.
 
The betting firm reported group net revenue up 20 percent to GBP 751.6 million, with retail net revenue contributing GBP 463.6 million, and overall operating profit up eight percent to GBP 181.4 million.
 
The group’s online gaming business continued to prosper, thanks mainly to a 44 percent rise in online sports book revenues which boosted revenue growth to almost GBP 234 million - up 18 percent.
 
Topping revealed that future plans include innovation and investment in mobile gaming; rolling out the next generation gaming machine in it’s 2,400 plus betting shops; and maximising the value of acquisitions for the long-term benefit of the business.
 
He said that the group sees strong potential in its move into the Australian market. "We are excited by the opportunity we see to develop William Hill Australia by improving our digital offer and targeting the recreational customer," he said.
 
Addressing the acquisition of Playtech's shareholding in the William Hill Online venture, Topping commented: "Taking control of online is giving us more freedom both to invest and to use that expertise across the group, including in Australia."
 
He added that the group currently has a team in Australia helping to optimise online offerings in that region.
 
Shares in the group have risen in value by 70 percent over the past year, ensuring happy investors in a company that can now boast a market cap of GBP 4.2 billion.
 
Highlights of the first half report included:
 
• Gained full control of rapidly growing online business through GBP 424 million acquisition of 29 percent outstanding stake in William Hill Online - a joint venture with Playtech
 
• Balance sheet transformation with GBP 373 million rights issue completed on 5 April 2013 and GBP 375 million corporate bond issued on 5 June 2013.
 
• Outstanding growth in online sportsbook net revenue, up over 44 percent, driving overall online net revenue growth up 18 percent and operating profit growth, up 16 percent.
 
• Continued strong growth in mobile with mobile Sportsbook amounts wagered up 112 percent and mobile gaming net revenue up an outstanding 198 percent.
 
• Strong over-the-counter (OTC) gross win margin growth driving growth in Retail net revenue. Operating profit down only GBP 2.2 million despite an additional GBP 5 million taxation charge following change to Machines Games Duty in February 2013.
 
• Basic adjusted earnings per share +16 percent and dividend +16 percent.
 
• Net debt increased to GBP 821 million (2 January 2013: GBP 339 million) with impact of acquisitions offset by GBP 373 million rights issue
 
Topping said that the industry shift to mobile gaming is an important development and consequently the group has invested significant resources in getting the business fully prepared to accelerate this important opportunity.
 
With almost 200 percent growth in mobile gaming net revenue in the first half, this decision is clearly justified.
 
“Looking forward, we are continuing to innovate and to invest, developing mobile gaming, rolling out the next generation gaming machine in the shops and with a clear plan for maximising the value of our acquisitions for the long-term benefit of the business,” he concluded.



Gambling News :

NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday - Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.

Pro League Reveals Sportradar Contract Details - The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.

NFL Odds: Steelers Visit Undefeated Chiefs #TNF - The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.

Mega Moolah strikes again - The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.

2 New Slots For Microgaming Casinos - David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.

MLS Odds: Red Bulls vs. Whitecaps - The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.

Velka Pardubicka On RacingUK - Felix de Giles flies the British flag in Sunday’s Velka Pardubicka

Mega Moolah Jackpot Hits on 9/27/2017 - Another millionaire made on Microgaming’s Mega Moolah; 5th largest Microgaming payout

Simon Jones is crowned the Greatest Poker Player in the Universe - A €10,000 leaderboard tracked player progress throughout the series to determine who the Greatest Poker Player in the Universe was. Professional poker player/sports psychology lecturer, Simon Jones, took the crown with a €5,000 cash bonus and trophy to prove it.

MLB Odds: Yankees Favored in AL Wild Card Game - After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.

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