William Hill Profit Boost Thanks to Strong World Cup 2010

Despite having disappointment with horseracing, they made up for it with impressive performances online, with retail gaming machines and an excellent World Cup.

The first six months of this year (until June 29th) saw William Hill’s total net revenues increase by about 3% yoy (year over year). This result is inclusive of their disappointing Grand National and also a loss on Royal Ascot. It was balanced by a huge profit from the World Cup and strong online performance.

William Hill Online saw a total net revenue growth of about 24% yoy, their operating profit also group by 43% yoy. These two growths were hugely influenced by the company’s sportsbook section, the sportsbook turnover increased by a massive 59%. This is down to more customers and greater use and over 13% higher gross win margins compared to H1 of 2009, from 6.8% to 7.7%.

Since the release of the ‘Storm’ machines there gaming machines have also made a strong profit.

The Chief Executive Ralph Topping said, “Whilst it was our worst ever Royal Ascot, with a loss on the meeting, the World Cup proved to be one of the best for bookmakers in 40 years. Overall, we have seen a good Group performance in the period, with a particularly strong contribution from William Hill Online.”