William Hill ‘on track’ to hit forecasts
William Hill has posted slightly higher revenue in the fourth months since its first-half results, benefiting from higher online gambling demand and its aggressive expansion in the US.
The company is focusing on its online business in light of new UK rules, which cut the maximum stake allowed to £2 from £100 on high-speed slot machines.
William Hill has also closed about 700 shops and is stepping up its push in the US.
The company said its online net revenue rose 26% for the 17 weeks ended October 29, with a 60% jump in net revenue from the US.
Retail like-for-like net revenue fell 16% in the period.
William Hill also today reiterated its full-year expectations. It said in August it expects full-year adjusted operating profit to be in the middle of a range of £50-70m. Please use the sharing tools found via the share button at the top or side of articles.
William Hill’s chief executive Ulrik Bengtsson, said that he had been focused “on how we can improve our competitiveness whilst ensuring we continue to deliver on our strategic ambitions and I am pleased to confirm we remain on track to meet our full year expectations”.