William Hill’s $1.79 billion revenue
WILLIAM Hill PLC has reported a $1.79 billion in revenue in 2011, a 6 percent year-over-year increase.
William Hill said the net revenue increase was largely driven by its online business, which posted a 28 percent increase, to $508.4 million in 2011, while its retail operations gained 1 percent, to $1.24 billion.
“We believe there are more opportunities to grow in our core market in the U.K. and also for the business to expand internationally beyond the traditional roots as more governments open up their regulated gambling markets,” William Hill CEO Ralph Topping said.
“We are taking our first steps into the U.S. with the three impending land-based sports betting acquisitions,” Topping said. “We were warned the regulators process could take 12 to 18 months. It’s an exceptionally long process but we are in the hands of the regulators and we are not complaining.”
Topping said the company was “keeping an eye on where online could be going.” He told gaming analysts in a conference call that William Hill has applied for a full gaming license in Nevada, putting the British bookmaker in a “very strong position.”
“While we are focusing (on Nevada) we (had) better not overlook the move by Gov. (Chris) Christie in New Jersey particularly to overturn the land-based ban.”
The British based firm operates 2,370 betting shops and takes more than 1 million bets a day, averaging between $4.75 and $6 per wager. The company are looking to step onto foreign land as 2012 looks set to be a momentous year for legislation.
