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NEWS 6 November 2018
William Hill hails "rapid YTD progress" in US as retail declines
By Tim Poole

William Hill has announced a 4% year-on-year growth in online net revenue for the year to date, with sportsbook revenue growing 8%.

However, the operator suffered a 4% decline in year-to-date retail net revenue, with sportsbook falling 6% in this category.

Gaming rose 1% online but fell 2% in retail.

William Hill’s most notable results came in the US, with the operator hailing "rapid progress" as net revenue in Nevada grew 36% in local currency.

Also accepting sports wagers in Delaware, New Jersey, Mississippi, West Virginia and New Jersey, the operator took approximately $200m in total handle; an amount said to be in line with company expectations.

William Hill’s full-year operating profit is expected to be between £225m ($293m) and £245m.

CEO Philip Bowcock said: "It has been another busy period for William Hill, with significant progress made on our plan to capitalise on the emerging US sports betting opportunity following the Supreme Court’s decision to overturn PASPA in May.

"I’m pleased to report we’ve built on our market-leading position in Nevada to make rapid progress in other states as they legalise sports betting, and are the only company to be taking sports bets in the first five states to have regulated."

Bowcock was keen to emphasise William Hill’s digital strategy, which is a driving factor behind its offer for MRG.

When contacted by Gambling Insider last week, sources close to the operator said the takeover should be complete by January.

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