Doubling up down under

williamhillsignA year after acquiring, William Hill Australia said it has nearly doubled operating profit.

The group’s interim results for the first six months of the year record gains in wagering, unique actives, and new accounts. Cost per acquisition was down 36 per cent during the same period.

William Hill Australia now accounts for seven per cent of total revenue, having also incorporated the Sportingbet and Centrebet brands in March 2013. Amounts wagered have increased by 71 per cent compared to last year (£724.1m vs. £422.3).

However, Racing Victoria and Racing Queensland recently announced increases to the race field fees charged to bookmakers on racing turnover or net revenue, and the business believes this poses a direct challenge.

“The unmitigated impact of the revisions announced so far is estimated to be cA$10m on a full-year basis. Whilst we are currently assessing potential mitigation factors, there can be no certainty that any such savings will ensue,” the report states.

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