World Cup betting boosts William Hill figures

UK bookmaker William Hill has reported an increase in revenue thanks to betting on football’s Fifa World Cup, but a slight dip in operating profit, for the first six months of 2014.

Revenue increased by 7% to £805 million (€1.012 billion/$1.355 billion), while operating profit slipped by 2% to £177 million. Both figures were slightly ahead of forecasts, but by 10:00am William Hill’s share price on the London Stock Exchange had fallen by 1.3%.

The World Cup, which generated a 211% increase in online wagering for the company in comparison with the previous edition of the tournament in 2010, helped to offset unfavourable sporting results earlier in the year.

The company’s online sportsbook reported a 41% increase in turnover and a 74% rise in mobile wagering, while broader online gaming and mobile revenue increased by 18% and 146%, respectively.

William Hill also hailed the continued “successful diversification” of the business, with 52% of operating profit being derived from digital channels and 17% of revenues being generated by international markets.

In announcing its interim results for the 26 weeks through to July 1, William Hill’s new chief executive officer, James Henderson, reiterated that his priorities will be to expand the business internationally.

“What excites me most is the potential for the business both in the UK and internationally as well as potential in both the digital world and on a multi-channel basis,” Henderson, who has replaced the long-serving Ralph Topping, said.

“We have an outstanding team whose insights are being applied to our international operations. With our scale, technology and first-rate team, there is a lot more we can do to drive revenues across our existing products and platforms.

“We will always face regulatory challenges given our focus on regulated markets, as well as volatility in sporting results. Greater diversity helps mitigate this risk.

“We have already strengthened our global reach with two home markets and evolving opportunities in Spain, Italy and the US.

“I believe this is the right strategy and I will be looking hard at how we can continue to create shareholder value in developing a focused but internationally orientated gambling group.”

Related article: Henderson confirmed as new William Hill CEO

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