William Hill profits enhanced by online wagering

19 April 2013

William Hill said a strong performance in online wagering assisted to enhance its very first quarter operating profits by 8%.
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More sporting bets were made online than in its stores, with an increasing number placed through its mobile apps.
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The company said, external that although it had a poor Cheltenham Festival, it had better luck in the Champions League.

It was the first time no English football group had actually been in the quarter finals given that 1996.

As such, while the amount paid to winning bets at the Cheltenham Festival was greater, the money punters put on English groups to advance to the Champions League quarter finals and beyond all went into William Hill's coffers.
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The firm said it had actually also enjoyed its best-ever lead to a Grand National, which was won by the 66-1 outsider Auroras Encore.

"It has been a successful start to 2013 in trading terms", stated president Ralph Topping.

"Having grown our UK online market share from 10% to 15% over the last four years, we intend to increase our share and are making significant investments in marketing, innovation and people to achieve that," he included.
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On Monday, competing bookie Ladbrokes cautioned that trading had been even worse than expected in the first three months of the year.
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The company blamed a drop in benefit from the Cheltenham Festival and lower incomes from high worth gamblers. It added that a high variety of cancelled conferences, due to the fact that of the extreme winter, had actually also affected its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, said: "William Hill's performance and potential customers are in stark contrast to the problems presently being faced at Ladbrokes.
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"There are, of course, headwinds, such as the fierceness of competition in the sector and the typically pressed consumer, however these are challenges which the whole industry is facing," he included.
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Ladbrokes warns on slower trading

15 April 2013
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