News Business William Hill Revenue Rise

William Hill Revenue Rise

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UK-based bookmaker William Hill has released figures for the latest period of 2019 that show a small rise in revenue over four months to the end of October.

The firm says that it is currently on track to meet the full-year expectations for 2019. It announced an increase of 1% in net revenue between July 3 and October 29. During this period, the firm said that it had closed 700 shops to compensated for the introduction of the £2 maximum stake limit for Fixed Odds Betting Terminals (FOBTs) that was introduced in the spring.

In the UK market, net revenue grew by 4%, marking the second quarter in a row of revenue growth, although like for like revenue in the retail sector dropped by 16% on the half-year figure, as a result of the estate remodelling that included the shop closures.

On the other side of the Atlantic, there was a dramatic increase in the US net revenue. This rose by an impressive 60% on the back of continued growth. During the period in question, William Hill launched services in the states of Indiana and Iowa and continues to be a big player in the newly regulated US betting industry.

Speaking about the report, the CEO of William Hill, Ulrik Bengtsson said that he was pleased that the firm was on track to meet predictions for the year, despite a number of changes:

“We have remodelled the UK retail estate, while the UK Online business has benefited from a series of customer facing improvements evidenced in the stabilising market share in the last two quarters. In addition, we expect our international online business to benefit from a number of important product improvements that will be delivered over the coming quarters.”

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