Online improvement lifts William Hill first quarter revenue

Business News

William Hill said that it expects its performance for 2018 to be in line with market expectations, as comparable net revenue in the first four months of the year rose 3%.

The gambling company said net revenue was 1% higher in the 17 weeks ended April 24 including discontinued operations, after it sold its Australian unit for 313.7 million Australian dollars ($235.8 million) last month.

William Hill said it delivered a strong online and U.S. performance, which was partially offset by its retail operations. In the U.K., online net revenue was up 12% on year in the 17 weeks to April 24, while retail net revenue fell 4% compared with the year-earlier period, it said. Net revenue in the U.S. grew 45%, the company said.

“William Hill has had a positive start to 2018, making further progress against our strategic priorities to grow UK market share, drive international revenues and deliver key transformation projects,” Chief Executive Philip Bowcock said.

For 2018, the company is expected to make a pretax profit of 274.4 million pounds ($371.9 million).