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13 May 2010
Bingo News: Group rises for William Hill in First Quarter of 2010
William Hill has recently published their 2010 key performance indicators which show group net revenue is up by 1% and earnings pre interest and tax are up by 3%. It is thought these figures reflect the surge in William Hill’s egaming division. The net revenue for growth was up 25% on 2009’s first quarter.
These figures include strong performance in sports betting with William Hill’s Orbis powered sportsbook platform and own product adding to sports’ net revenue growth of 79%. This is due to higher volume and expanded margin of 8.1% compared to 6.6% for the same time period last year.
Growth was also seen in the casino and bingo sector which were up by 11% and 53% respectively, though the bookmaker wasn’t able to beat off tough fierce competition in poker, which saw a net revenue drop of 11%.
Before interest and tax (EBIT) the online earning for the quarter was £23.3m. William Hill’s Chief Executive, Ralph Topping said; “I am satisfied with our performance this early in the year, with an improvement shown in overall retail turnover levels and good growth from William Hill Online in revenues, operating profit and new accounts.
“We have much to look forward to this summer with interest in the World Cup expected to be greater than ever. Kick-off times in South Africa are favourable for our UK and European customer base and we have experienced sustained growth in football betting since the last tournament.
“We continue to maintain a watchful eye on costs and are making significant investment in growing our international online business. I am confident that we are on track to achieve our objectives for this year.”
William Hill Group’s retail division had gross win fall 3% with steady growth partially offsetting the over the counter gross win decline of 11%.
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