William Hill plc, who are based in the United Kingdom, just announced the results for the first half the 2013 calendar year. The report shows an increase in net revenue and its operating profit. This is good news for William Hill and in line with the general reports coming out by other large online betting operators.
The main indicators for the first half, which ended in July, showed that the net revenue had increase by 20.1% to £751.5 million. This included William Hill’s retail operation accounting for £463.5 million of that amount. The operating profit increase 8.1% as well to £181.3 million and its online operations saw an increase of 18.1%. This was due in part to the sportsbook revenues increasing 44.1% overall.
William Hill reported that it gained complete control of its online gaming business through the purchase of 29.1% of remaining stock. This acquisition cost £423.9 but will pay off in the long run and increase profits. There were also highlights about its mobile sportsbetting with wagers increase more than 110% and net revenue for its mobile operating increasing almost 200%.
William Hill expects to see the remaining six month continue on this strong pattern of growth and profitability. It will be seen if this is true when third quarter results are released.