The giant betting company William Hill has announced a 12% increase its revenues compared with the last year results in Q1, as well as its operating profit up 19%. William Hills net debt was down from £416 on December 2011 to £355 in the Q1 2012.
The company benefitted from win growth from both, over the counter (OTC) and gaming machines thanks to the retail net revenue, which rose a 5% and it increased by 2% the amounts wagered with an 8% in operating profit.
On the other hand, the online net revenue augmented a 33% increase comparing with the same period during 2011 (Q1). Sportsbook revenue and amounts wagered grew by 58% and 31% respectively (in sports betting with the win margin at 8.8%, up from 7.3% in 2011).
Excluding some negative weeks, OTC quantities wagered increased a 0.7 % on Q1 2011. On the other hand, OTC net revenue was 5% higher, benefiting from a strong gross win margin of 19.4 per cent.
William Hill declared in January that Inspired Gaming Group was going to be the Storm Plus machine supplier to the retail estate. Actually, these machines were situated in around 100 shops and the results have demonstrated a notable out-performance compared with the existing FOBT terminals.
William Hill CEO Ralph Topping said:
“I am pleased by our strong performance in the first quarter. Sportsbook wagering grew by 31 per cent, OTC wagering saw underlying growth after taking into account adverse weather during the quarter and sports results contributed to a strong margin.”