Sportsbook boosts William Hill profits

Suzie Neuwirth

Bookmaker William Hill posted a 15 per cent revenue increase for the quarter thanks to a strong performance in sports betting and online.

The FTSE 100-listed company’s group operating profits rose eight per cent, while sportsbook net revenue soared 47 per cent over the period.

William Hill also completed a number of acquisitions in the first quarter, purchasing the remainder of William Hill Online for £424m and buying Sportingbet Australia for £459m.

“Operationally, performance remains good, with strong gross win margins a feature of the period in both retail and online,” said chief executive Ralph Topping.

“Having grown our UK online market share from 10% to 15% over the last four years, we aim to increase our share and are making significant investments in marketing, technology and people to achieve that.”