william-hill-profits-boosted-by-online-betting

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William Hill earnings increased by online wagering

19 April 2013
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William Hill said a strong performance in online betting helped to enhance its very first quarter operating revenues by 8%.

More sporting bets were made online than in its wagering stores, with an increasing number put through its mobile apps.
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The business said, external that although it had a poor Cheltenham Festival, it had much better luck in the Champions League.

It was the very first time no English football team had actually been in the quarter finals given that 1996.

As such, while the amount paid to winning bets at the Cheltenham Festival was greater, the cash punters placed on English groups to progress to the Champions League quarter finals and beyond all entered into William Hill's coffers.

The company said it had likewise enjoyed its best-ever result in a Grand National, which was won by the 66-1 outsider Auroras Encore.
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"It has actually been an effective start to 2013 in trading terms", stated president 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 considerable financial investments in marketing, innovation and people to achieve that," he added.

On Monday, rival warned that trading had actually been worse than anticipated in the first 3 months of the year.
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The company blamed a drop in benefit from the yohaig code Cheltenham Festival and lower incomes from high worth bettors. It included that a high variety of cancelled conferences, since of the harsh winter season, had actually also affected its results.
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Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers, stated: "William Hill's performance and prospects are in plain contrast to the problems currently being dealt with at Ladbrokes.

"There are, obviously, headwinds, such as the fierceness of competitors in the sector and the generally pressed customer, however these are obstacles which the whole industry is facing," he added.
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Ladbrokes cautions on slower trading

15 April 2013