William Hill celebrates digital growth in the midst of turnaround programme

BETTING giant William Hill has celebrated growing revenues from its digital business and assured investors that its turnaround programme is still on track.

William Hill splitGETTY

William Hill is celebrating an on track turnaround

Net revenue from the firm’s online business grew 6 per cent over the 17 weeks to October 24, with the amounts wagered rising 13 per cent for the period.

That is compared to its UK retail stores which reported half that revenue growth at just 3 per cent, while wagers fell 1 per cent.

Chief executive Philip Bowcock said the results highlight “good financial and operational progress” so far in the second half of the financial year.

“Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year, in spite of the absence of a major football tournament, and an acceleration in gaming growth,” he said.

William HillGETTY

As part of its turnaround plan, William Hill will invest more in digital betting

Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year

Philip Bowcock

International performance was mixed, with Australian revenue and wagers falling 2 per cent and 5 per cent, respectively, while its US business delivered a 28 per cent rise in revenues and a 33 per cent jump in wagers.

William Hill shares were down 1.1p at 277.1p in morning trading.

Mr Bowcock said the company was set to make further investments in its digital business as part of its turnaround plan.

He said: “We continue to make good progress on our transformation programme, which is on track to deliver £40million of annualised savings by the end of this year.”

The update follows in Ladbrokes Coral’s footsteps last week, with the rival also reporting strong growth from the digital business offsetting a drop at its own retail stores.

A further squeeze is expected in light of increased UK regulation, with the Government last month revealing plans to cut the maximum stake on fixed-odds betting terminals from £100 to between £50 and £2.

Mr Bowcock said that the company was looking forward to “receiving much-needed clarity” over the Government’s review, which is currently out for consultation.

He added: “Betting shops have a unique and positive role to play in supporting problem gamblers who typically use five or six gambling products.”

William Hill celebrates digital growth in the midst of turnaround programme

BETTING giant William Hill has celebrated growing revenues from its digital business and assured investors that its turnaround programme is still on track.

William Hill splitGETTY

William Hill is celebrating an on track turnaround

Net revenue from the firm’s online business grew 6 per cent over the 17 weeks to October 24, with the amounts wagered rising 13 per cent for the period.

That is compared to its UK retail stores which reported half that revenue growth at just 3 per cent, while wagers fell 1 per cent.

Chief executive Philip Bowcock said the results highlight “good financial and operational progress” so far in the second half of the financial year.

“Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year, in spite of the absence of a major football tournament, and an acceleration in gaming growth,” he said.

William HillGETTY

As part of its turnaround plan, William Hill will invest more in digital betting

Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year

Philip Bowcock

International performance was mixed, with Australian revenue and wagers falling 2 per cent and 5 per cent, respectively, while its US business delivered a 28 per cent rise in revenues and a 33 per cent jump in wagers.

William Hill shares were down 1.1p at 277.1p in morning trading.

Mr Bowcock said the company was set to make further investments in its digital business as part of its turnaround plan.

He said: “We continue to make good progress on our transformation programme, which is on track to deliver £40million of annualised savings by the end of this year.”

The update follows in Ladbrokes Coral’s footsteps last week, with the rival also reporting strong growth from the digital business offsetting a drop at its own retail stores.

A further squeeze is expected in light of increased UK regulation, with the Government last month revealing plans to cut the maximum stake on fixed-odds betting terminals from £100 to between £50 and £2.

Mr Bowcock said that the company was looking forward to “receiving much-needed clarity” over the Government’s review, which is currently out for consultation.

He added: “Betting shops have a unique and positive role to play in supporting problem gamblers who typically use five or six gambling products.”

William Hill celebrates digital growth in the midst of turnaround programme

BETTING giant William Hill has celebrated growing revenues from its digital business and assured investors that its turnaround programme is still on track.

William Hill splitGETTY

William Hill is celebrating an on track turnaround

Net revenue from the firm’s online business grew 6 per cent over the 17 weeks to October 24, with the amounts wagered rising 13 per cent for the period.

That is compared to its UK retail stores which reported half that revenue growth at just 3 per cent, while wagers fell 1 per cent.

Chief executive Philip Bowcock said the results highlight “good financial and operational progress” so far in the second half of the financial year.

“Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year, in spite of the absence of a major football tournament, and an acceleration in gaming growth,” he said.

William HillGETTY

As part of its turnaround plan, William Hill will invest more in digital betting

Our online business has performed particularly well, with UK wagering 14 per cent ahead of last year

Philip Bowcock

International performance was mixed, with Australian revenue and wagers falling 2 per cent and 5 per cent, respectively, while its US business delivered a 28 per cent rise in revenues and a 33 per cent jump in wagers.

William Hill shares were down 1.1p at 277.1p in morning trading.

Mr Bowcock said the company was set to make further investments in its digital business as part of its turnaround plan.

He said: “We continue to make good progress on our transformation programme, which is on track to deliver £40million of annualised savings by the end of this year.”

The update follows in Ladbrokes Coral’s footsteps last week, with the rival also reporting strong growth from the digital business offsetting a drop at its own retail stores.

A further squeeze is expected in light of increased UK regulation, with the Government last month revealing plans to cut the maximum stake on fixed-odds betting terminals from £100 to between £50 and £2.

Mr Bowcock said that the company was looking forward to “receiving much-needed clarity” over the Government’s review, which is currently out for consultation.

He added: “Betting shops have a unique and positive role to play in supporting problem gamblers who typically use five or six gambling products.”

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