3rd Oct 2013 07:29
LONDON (Alliance News) - William Hill PLC Thursday said mobile gaming net revenue increased by 126% for the 13 weeks ended 1 October, with mobile accounting for 13% of gaming net revenue. However, the company warned that gross win margins in sport betting were below the year before.
In an interim management statement for the third quarter, the betting firm said retail football staking increased by 27% during the period, while football Sportsbook wagering increased by 49% and mobile wagering on Sportsbook by 115%.
Overall net revenue increased 10%, operating profit declined 31%, online net revenue fell 2%, and retail revenue grew 5% during the quarter, William Hill said.
"During this quarter, results were not as favourable as in the comparable period, with outcomes - particularly in football - going the punters' way," Chief Executive Ralph Topping said in a statement.
"Consequently, gross win margins are below the prior year in both major channels, and below normalised expectations in Sportsbook. It is of course important in our business to look through the impact of short-term results on trading."
William Hill said it had invested further in Australia, through the GBP20 million of online betting site tomwaterhouse.com, while strengthening its management team in the region.
William Hill shares were quoted at 409.00 pence early Thursday, down 2.30p.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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