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Posted 2/25/11 : Results come in at the top end of market expectations
UK bookmaker, William Hill PLC announced its final full year results for the period ending 28 December 2010 this week, noting that the results were at the top end of market expectations.
Key financial indicators included:
-  Net revenue of GBP1071.8 million (2009: GBP997.9 million) and increase of 7 percent.
-  Retail net revenue comprises GBP783.1 million (2009: GBP757.7 million), up 3 percent.
-  Online net revenue shows a 24 percent increase and amounts to GBP251.5 million (2009: 203.5 million).
-  Operating profit of GBP276.8 million (2009: GBP258.5 million), a 7 percent increase.
-  Profit before tax increases by 60 percent to GBP193.3 million (2009: GBP120.9 million)
-  Profit after tax indicates a 92 percent increase to GBP156 million (2009: GBP81.2 million)
Key points:
-  Strong William Hill Online results underpinned by outstanding Sportsbook growth
-  In-play amounts wagered more than doubled with expansion of offering
-  Improvements in trading approach deliver growth in Sportsbook and in-play gross win margin
-  Successful roll-out of new 'Storm' gaming machines drives Retail net revenue growth
-  Further balance sheet strengthening with debt reduction and extension of debt maturities
 Ralph Topping, Chief Executive of William Hill, commented:
"This is a strong performance and I am delighted that, in particular, our Online business and the gaming machines in our shops have performed very well in the year. Our continuing investments in technology in what is a fast-changing industry have underpinned growth and the more than doubling of the amounts wagered from in-play this year demonstrates that customers welcome these innovations.
"We are continuing to expand our product offering to enhance the customer experience, particularly in Online. We are using our trading capability to deliver differentiating pricing and offers, and increasing the profile of our brand through continuing marketing investment. The combination of our fast-growing Online business and appealing Retail offering, together with the expertise of our employees and our attractive product range, give the Board great confidence as we pursue an agenda of innovation and international development."
Rival group Ladbrokes also delivered a strong performance last week, reporting a 20 percent rise in full year operating profit as new gambling machines and in-play betting proved popular

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Gambling News :

William Hill Chairman Not Stepping Down - There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.

Canadian Lottery Looking at Online Gambling - The reaction of other provinces is not known, but the Newfoundland and Labrador government was apparently less than enthusiastic about the prospect, which it did not regard as a priority.

Red Riding Hood Online Slot Launched - The game, which has already attracted much preview interest, is part of the developers Fairytale Legends series, which the company plans to expand with further titles in 2017.

Super Heroes Slot Launches - When the feature is triggered, two of the heroes appear on each side of the screen to boost winnings. During free spins, heroes are triggered on every spin, with their super powers growing stronger each time.

SIS Stream To Deliver racing games to online customers - Online and retail betting industry provider SIS has signed a multi-year deal that harnesses the power of its SIS Stream product to deliver 49s-branded racing games to online customers.

Playngo in Deal With Betclic Everest Group - Swedish online gambling games developer Play’n GO has signed an agreement with the Betclic Everest Group that will see its full suite of games rolled out across the French group’s online casino brands.

2016 Italian Poker Tour main event in Malta - After besting a field of 775, many of them respected aces, Austrian poker pro Ismael Bojang claimed the main prize of Euro 101,940 over the weekend in the eighth edition of the Euro 1,100 buy-in Italian Poker Tour main event in Malta.

Betradar in Deal with OPAP - Sports betting data and analytics provider Betradar has inked a live betting supply deal with the major Greek licensed retail and online gambling operator OPAP.

2016 888poker Make It Big Tournament - A relatively unknown Hong Kong poker player, Ka Him Li (21), claimed victory after a two-way chop in the main event at the inaugural 888poker “Make It Big” live poker festival at the Aspers Casino in London over the weekend, earning the top prize of GBP 45,300.

Lightning Box Games in deal with WIlliam Hill - Sydney-based slot design specialist Lightning Box Games has signed an agreement to supply its content to William Hill’s licensed betting offices in the UK.

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