William Hill reports annual revenue growth of 2%

William Hill advert banned from Tinder

William Hill advert banned from Tinder

Net revenue from the US jumped 48% from operations in seven states that now legislate and regulate sports betting.

The company, which serves punters through betting shops, sports books, online and mobile channels in eight countries, said overall revenue rose 2% and online revenue grew 8% as it benefited from the Sweden-based Mr Green & Co acquisition. Had anyone actually from William Hill's adverting department actually visited the town during race week, I think they'd soon find out that everyone is looking for a drink and a shag with literally anyone, regardless of the contents of their wallets.

The retail business was hurt by a 15% slump in gaming revenue that partly owed to the impact of regulatory limits on fixed-odd betting terminals.

Meanwhile, William Hill has stated in a trading update that its full-year performance remains on track. Chief Executive Officer Philip Bowcock had said in November that the USA business would turn profitable in three years.

Publishing its Q1 results for the unaudited 17 weeks to 30 April 2019, William Hill has reported that its strong momentum across seven states in the USA market has offset a weaker retail performance back in the UK.

In its update, the FTSE bookmaker details that it has made significant progress adjusting to new United Kingdom retail demands enforcing £2 FOBTs stake limit, despite William Hill recording retail revenues down 7%.

"As anticipated enhanced customer due diligence measures impacted revenues in our Online business in the period, while gross win margins returned to more normal levels".

"The impact of the introduction of the £2 stake limit has been in line with our expectations".

The UK advertising watchdog has banned one of the adverts of gambling giant William Hill after allegations that the ad linked gambling with sexual success. "Through our Nobody Harmed ambition we remain focussed on setting the standards for the future and addressing public concerns and we are encouraged by continued industry collaboration in this area".

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