William Hill Online Division Delivers Net Revenue Growth - 03-12-10

March 12 - William Hill has released their unofficial financial results for 2009 showing a four percent rise in net revenues to almost a billion pounds.

The Group's Net revenues for the year totalled £997.9 million, even though earnings from the retail operations fell four percent year-on-year to £757.5 million.

The Group will be relieved by the performance of the William Hill Online operation, which saw revenues increase by a massive 63 percent compared to 2008, to £203.5 million. Overall earnings however were down to £258.5 million.

William Hill referred to 2009 being a ‘year of transformation’ with the focus being integration of the assets acquired from Playtech into its Online division. The Group has spent a significant amount in their "Storm cabinets" which are to be rolled out throughout their land-based retail. There are new state-of-the-art gaming machines.

“In terms of 2009, the scale and breadth of our business ensured that we were well-placed to ride out the extra volatility in sporting results and the areas affected by the economy were counteracted by good growth in gaming machines and our improving online performance,” said Ralph Topping, Chief Executive Officer for William Hill.

“We have transformed key parts of William Hill in the last year. William Hill Online is almost unrecognisable from a year ago with highly competitive gaming products, proven marketing expertise and a sportsbook that has more pre-match and live betting products. Storm machines will shortly be available across much of the estate, giving us 22-inch high-definition technology to enhance the customer experience. In addition, we have addressed the balance sheet issues to leave us in a much stronger position.”

Read our William Hill Sportsbook and William Hill Casino Reviews.

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