William Hill full-year revenue down 16%

Business News

William Hill said net annual revenue fell 16% to £1.32bn, reflecting the impact of betting shop closures during the Covid-19 pandemic. 

The Group’s total net revenue for the fourth quarter grew 9% year-on-year. Sportsbook staking increased 16%, driven by enhanced products and geographical expansion, whilst gross win margins benefitted from favourable sporting results, driving Group sportsbook net revenue up 20% year-on-year.

Online International net revenue increased 12% on a pro-forma2 basis in 2020, benefitting from the successful integration of Mr Green, which launched in two new regions. Delivery of product improvements and effective implementation of a multi-brand strategy offset regulatory headwinds and the absence of live sport during part of the year, with gaming growing 18% pro-forma.

Online UK net revenue grew 5% in 2020. The steady stream of platform and product upgrades improved our competitive position and the year concluded strongly, driven by a full calendar of live sport in the last quarter and with gaming net revenue growing 20% in that quarter.

US full year net revenue increased 32%, driven by strong growth online. 

2020 has been an extraordinary year with the impact of the Covid-19 pandemic on live sport, national and regional lockdowns in our Retail business and the effect of trading a smaller retail estate, meaning that total Group net revenue for the year decreased by 16% to £1,324m. Customer protection remains one of our highest priorities and throughout the year we implemented extensive player safety measures to safeguard our customers.