William Hill benefits from US growth as UK stumbles

Business News

British bookmaker William Hill Plc reported higher revenue for the year to April 30 on Wednesday, as the success of its online business and operations in the United States countered a weaker retail performance back home.

The company, which serves punters through betting shops, sports books, online and mobile channels in eight countries, said overall revenue rose 2% and online revenue grew 8% as it benefited from the Sweden-based Mr Green & Co acquisition.

Net revenue from the U.S. jumped 48% from operations in seven states that currently legislate and regulate sports betting.

The company, which processed more than 8 billion pounds in sports wagers in 2018, has been spending aggressively to push growth and capture market share in the United States. Chief Executive Officer Philip Bowcock had said in November that the U.S. business would turn profitable in three years.