iGaming operator William Hill published third quarter 2013 results that saw the company drop £20m below set expectations for company performance in the year. William Hill saw operational revenue increase by 10%, nevertheless net operating profit was down 31% on set targets.
William Hill have warned investors that there is no certainty whether the company will be able to make the shortfall in target numbers for the remainder of the year. The operator is adamant that group performance remains strong and that the factors that have led the company to see its profits decrease are not down to operational factors.
Ralph Topping, CEO of William,stated that the poor net results for the company had been caused by a quiet July, which had no European football market, which had an affect on both the companies online and offline operations. Topping pointed out that the company had seen increased wagering on its in-store slots and games, and that William Hill had seen a 115% increase on its mobile gaming verticals. Positives that investors and stakeholders in William Hill could draw upon.
“Online Sports betting staking growth goes from strength to strength, with growth in football wagering accelerating at the start of the new season,” said Mr Topping.
William Hill will look to grow in new markets, targeting Australian igaming. The operator recently purchased two regional based igaming operations, Tom Waterhouse and SportingBet Australia.