‘Multi-channel’ strategy drives William Hill growth in 2013

Bookmaker William Hill has cited the success of its multi-channel betting service as the reason behind an increase in revenue during the 12 months through to December 31, 2013.

The firm posted full-year net revenue of £1.5 billion (€1.8 billion/$2.5 billion), a 16% increase on the previous year’s figure of £1.3 billion.

Retail net revenue was responsible for £907 million of total revenue, up 8% from the previous year.

William Hill’s online operations contributed £446.3 million to full-year net revenue, an increase of 10% on the £406.7 million its internet business generated in 2012.

Despite the growth in revenue, the bookmaker did suffer a drop in profit after tax, which fell by 2% from £231 million in 2012 to £226.5 million last year.

However, William Hill was able to record a slight increase in operating profit, which grew by 1% to £335 million.

Ralph Topping, chief executive of William Hill, said that the company’s largely successful figures are the result of its continued approach to multi-channel betting.

“Our focused transformation of the group over the last five years means William Hill is now one of the world’s leading multi-channel betting and gaming businesses, with revenues diversified through the rapid growth of online and through careful expansion into selected international markets,” Topping said.

“Online’s sportsbook performance continues to be sparkling, with staking levels up around 400% over the five years since the start of 2009.

“Mobile sportsbook represents 39% of sportsbook wagering in 2013. We put greater focus behind mobile gaming in 2013 and have made good progress in bringing our offer up to match the high standards we’ve set with our sportsbook.

“Importantly, retail remains resilient, despite the ongoing squeeze on our core customer base’s discretionary spend and the large-scale expansion of online and mobile in the UK.

“The work of the last five years to expand our product range, improve our user experience, innovate with our mobile offering and invest substantial sums in the WilliamHill.com brand have made us a formidable online competitor.”

source : www.igamingbusiness.com