Economy

William Hill sees surge in online trade

William Hill sees surge in online trade

Retail is also seeing positive trends while our key global markets continue to perform well with double-digit wagering growth.

In its trading update, the company said it recorded growth in wagering and net revenue across all four divisions.

Group net revenue went up nine per cent during the period.

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The trading statement comes in contrast to an update from Ladbrokes Coral which reported a 2 percent drop in United Kingdom retail net revenue from Jan.1-April 23, hit by punter-friendly sports results and pressure on consumer spending. In Australia, revenue was up 41 per cent, and in the United States it went up 19 per cent.

Online, which represents more than a third of revenues, saw net revenue jump 16% as amounts wagered rose 9% and was the only arm to grow gross win margin, enjoying a 1.2% increase to 7.5%.

As far as online operations are concerned, the company said that it remain focused on providing its customers and partners with improved products and great gaming experience.

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Philip Bowcock came out fighting in his first outing since taking the reins permanantly at William Hill, thanks to stronger than expected first-quarter trading. William Hill marked the release of its its new Sportsbook Android application.

But William Hill's weak growth at its retail division matches warnings from other leisure operators, including rival Ladbrokes Coral, and Costa Coffee owner Whitbread of a "challenging United Kingdom high-street environment".

A strong Cheltenham Festival helped bookmaker William Hill get off to a good start to its year. Over the last couple of years she has been engaged in writing about a number of industries and has developed an interest for the gambling market in the UK.

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