William Hill Boosts Profits after Australian Firm Acquisition

Australia’s William Hill Casino recently announced an almost double the profit for their operations after acquiring tomwaterhouse, an online betting provider in Australia, almost a year ago. The report for 2014’s first six months revealed the new accounts, unique activities, and wagering traffic gains and with this figure, showed that the casino online did exceptionally well. Through the 52% profit earned from the popularly growing digital channels, successful diversification can be seen while for the globalizing entity in the international markets, 17% from the total revenues was earned. This is indeed quite an outstanding growth for the Australian market and companies.

Compared to the previous tournament in 2010, an increase of 211% was observed in this year’s World Cup recording a new high in the online betting scene. Because of the mobile wagering, the online sportsbook keeps on growing with that growth rate said to be at 41%. On the other hand, because of a telling and strong growth figure of 146% in gaming on mobile, the net revenue for online gaming is growing continually by 18%. In Australia alone, the profits on operations grew nearly twice the previous figures because of the increase in activities, mainly new accounts at a 14% increase, unique activities at 21%, and wagering activities at 10%. William Hill’s performance in the US is also exceptional and strong with an operating profit of 383% and wagering activity of 22% gains. A healthy growth of 8% is seen in the interim dividend growth though pretax profit dropped overall.

The losses primarily come from the huge payouts in the early part of the year by the betting firm due to the unusually high number of players winning on their favorite games. A drop of 2.5% in terms of shares to pence of 343.90 was reflected from the information as of the afternoon on Friday. Taking things outside the country is the next hurdle and challenge that the operators from UK have to face for better revenues due to stricter regulations in the UK and more imposed duties on gambling with high stakes. Because of this, 87 poor performing betting shops and an addition of 27 at the end of the year was and will be closed by William Hill though they promised a normal results in sports betting.

Leave a Reply

Your email address will not be published. Required fields are marked *