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William Hill Enjoys Strong Start to 2017

William Hill Enjoys Strong Start to 2017

The bookmaker William Hill has enjoyed a 16% surge in online betting revenues since the start of the year.

The company launched a new app and overhauled its website in a bid to attract more business. They now say that the amount bet online by punters jumped 11% in the UK over the 17 weeks to April 25. It also saw a 24% increase in new accounts during the Cheltenham and Aintree horseracing festivals earlier in the year.

However, the company also confirmed an expected hit of around £5 million to its online arm this year from the new 10% levy on its UK horseracing gross win. The groupís overall net revenues lifted 9% year-on-year in the 17 weeks with a more muted 1% rise in turnover across its high street betting shops. The business is also on track to make annual savings of £40 million this year to reinvest in itself.

 

OCA News Editor

Jenny McKinnley is OCAís financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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