Increased race fees effect William Hill Australia wagering

tomdickhead
Tom Waterhouse – William Hill Australia

William Hill Australia pointed to increased fees charged by state racing bodies for a 3% fall in Australian betting wagers placed in the past quarter.

William Hill Australia currently operates betting brands Sportingbet Australia, Centrebet and Tom Waterhouse. Management of its Australian sports betting divisions outlined that it would look to improve margins on its Australian betting markets in order to counter the fees charged by racing bodies.

Speaking to investors last week, Group Chief Executive James Henderson commented that Australia accounts for 7% of corporate revenues. William Hill would be looking to increase its coverage and market position in the coming months.

July saw the appointment of high-profile Australian sports betting executive Tom Waterhouse as Managing Director of William Hill Australia. Waterhouse will look to implement corporate strategies in order to counter increased race field fees in the states of Victoria and Queensland.

“The progress made to date in William Hill Australia is delivering strong profit growth,” Mr Henderson said in a statement. “Our work to optimise the customer base, following the onset of increased race field fees, has improved the gross win margin, with slightly reduced amounts wagered, as expected.”

“More importantly, we are well positioned to compete during the busy Spring Carnival period,” Henderson further commented

 

 

 

Check Also

Voxbet secures international investment to ‘drive international growth’

Sports betting software developer Voxbet has secured strategic funding from a number of international investors, …

How Waterhouse VC is helping businesses ‘dominate their niche’

Our typical investment is “not well-understood” by most people, said Waterhouse VC Chief Investment Officer …

Scientific Games appoints Glen Saville as global trading lead

Scientific Games has appointed Glen Saville as its new Senior Director, Global Trading, taking over from Benjie Cherniak. Based …