William Hill revenues rise but profits fall in H1

William Hill announced their half year results showing a revenues rise of 7% to £805.2 million for the first 26 weeks of the year, however profits were down over that period by 2% to £176.9 million.

The Uk’s largest bookmaker said that betting on the World Cup was up 80% from the previous 2010 tournament helped by 60% of gamblers placing their bets on mobile and tablet devices.

In all the World Cup saw the company receive over 20 million bets worth £227 million, with the biggest bets coming in the final with Germany and Argentina seeing over £10 million gambled on that single game.

The company said that the profits fall was because of the poor results occurring during the first quarter of the year when many football and horse racing results went to favourites.

For the first time new CEO James Henderson who replaced Ralph Topping two months ago announced the companies recent results, Mr Henderson said now that William Hill profits arise from 52% online business and 17% from International markets, with the remainder from their retail business.