William Hill Post Q4 Surge

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UK Gaming and sports betting operator –William Hill expects 2013 group operating profit to be around the £335m mark, as the operator report a strong Q4 results to finish the 2013 financial year. The operator further reported that EBIT before exceptional items would reach + £320m.

Additionally William Hill reported a boost in net revenue by 14%. Key Q4 drivers for the operator had seen sports betting wagering increase by 38%, with the operator maintaining a gross win margin of 8.1%, an improvement on the 6.3% margin witnessed in Q3 2013.

The positives results displayed in Q4, were a welcomed boost to William Hill, as the operator had issued a the possibility of a £20m shortfall in Q3 2013, after a set of poor results during the summer months of 2013.

CEO Ralph Topping commented on Q4 performance Q4 proved a strong end to the year as we enjoyed continued momentum in Sportsbook with 38 percent more wagered in Q4 on a 13 week basis than last year,”

Topping further added ‘”This demonstrates our competitive strength in Online ahead of the expected introduction of the Point of Consumption tax in December 2014. We made good progress on key initiatives in the quarter: improving our mobile gaming offer, rolling out the Eclipse gaming machine to over a third of our estate and continuing to enhance Australia’s digital capabilities. It is also pleasing to see a turnaround in the profitability of our US business in our first full year of ownership.

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