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WILL HILL RELEASES H1 TRADING UPDATE

Good contribution from online activities, and profits for Playtech
 
The UK land and online gambling group William Hill plc has issued a trading update covering the first half of 2010 up to June 29th.
 
Management reports that William Hill Online has been an important contributor to the continuation of positive net revenue trends for the Group as a whole in Q2 2010, showing strong growth.
 
For the year to date, Group net revenue was up circa 3 percent compared with the same period in 2009 and pre-exceptional earnings before interest, tax and amortisation for the first half of 2010 are expected to be around GBP135 million (H1 2009: GBP 134.6 million).
 
William Hill Online performed strongly in the half, with total online net revenue growth of approximately 24 percent and operating profit approximately 43 percent higher than in the prior year.  This was underpinned by a strong Sportsbook performance. Helped by the doubling of in-play betting, Sportsbook turnover was up 59 percent year over year. 
 
In addition to outstanding top-line growth, gross win margin on the Sportsbook was 7.7 percent, up from 6.8 percent in the first half of 2009. This resulted in a minority interest for Playtech of GBP6.3 million in the second quarter and GBP12.9 million in the year to date.
 
The statement notes that, as announced in May, William Hill Online has ceased accepting online business from clients resident in France (see previous InfoPowa report).
 
Over-the-counter Retail has seen a very strong World Cup performance in June but poor horseracing results in the second quarter as a whole, with a relatively weak Grand National in April followed by a loss-making Royal Ascot festival.
 
Machines continued to perform strongly, benefitting from the roll-out of the 'Storm' machines across the Retail estate, which commenced in August 2009 and was completed in March 2010. Retail turnover was up circa 7 percent, net revenue fell by crica 1 percent and operating profit fell circa 8 percent.  For the half, the OTC gross win margin remained in line with the Group's expected trading range of between 17 percent and 18 percent.
 
The adverse horseracing results led to a 33 percent decline in Telephone net revenue and a small operating loss is anticipated. The Board has previously noted the challenge of competing with UK betting exchanges and Irish offshore telebetting operators, all of whom have benefitted from significant tax and cost advantages over UK bookmakers. The situation is under active review.
 
Chief executive Ralph Topping commented: "Whilst it was our worst ever Royal Ascot, with a loss on the meeting, the World Cup proved to be one of the best for bookmakers in 40 years. Overall, we have seen a good Group performance in the period, with a particularly strong contribution from William Hill Online."



Gambling News :

NHL Odds: Lightning go for Season Sweep Over Red Wings - The Tampa Bay Lightning (37-29-9) have been doing everything possible to make a fourth straight appearance in the Stanley Cup Playoffs. Without star centre Steven Stamkos, Nikita Kucherov (38 goals, 40 assists) and Victor Hedman (15 goals, 47 assists) have stepped up and will look to continue their strong play against the Wings. Game time is 7:30 PM ET on FS-D.

MPN Charity Poker Tournament at ICE 2017 - During what was a busy three-days for Microgaming at ICE Totally Gaming 2017, the MPN team enjoyed a charity poker tournament with Microgaming operators on Tuesday 7 February.

US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

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.

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