William Hill reports rising profits

City A.M. Reporter
Bookmaker William Hill this morning posted group operating profit up 26 per cent over the three months to September, helped by good sporting results.

Year on year, profit was 17 per cent up.

The online business grew strongly over the quarter, with online revenue up by 18 per cent over the period, and 26 per cent in the year to date.

William Hill added this morning that it would seek a valuation for the 29 per cent stake held by partner Playtech, taking steps towards full control of its online joint venture.

The bookmaker is already in talks to buy online gaming company Sportingbet in a £530m deal with GVC Holdings.