William Hill Q3 Revenue Down; Looks to Future US Growth

William Hill Q3 Revenue Down; Looks to Future US Growth
© PA

William Hill released its third quarter financial report Wednesday, and despite losses abroad, looks to remain active and move forward in the U.S.

The British bookmaker posted lower third-quarter revenue Wednesday, down about 9%, according to a news release. The net revenue decline was lower than the 32% decrease it saw in the first half of the year and the company said U.S. growth was the reason.

William Hill said it will be shutting down 100 retail shops in Europe for four weeks, reducing its earnings by about $2.6 million, because of new government coronavirus lockdowns.

CHECK OUT: Q&A With William Hill US CEO Joe Asher on Responsible Gambing

With three of the four major professional sports restarting their seasons late in July or early August and with NFL and college football restarting this fall, William Hill is seeing a bit of an uptick in wagering in the U.S. It said it will operate more than 170 sportsbooks in 15 states when the integration of Caesars’ sportsbooks is complete.

Online wagering continues to grow as William Hill took in 72% of its U.S. handle online. It also extended its media and digital presence to include ESPN through a multi-year co-exclusive agreement with partner Caesars Entertainment. With its exclusive deal signed with CBS in February, William Hill US now has access to two of the top sports media brands in North America.

The bookmaker said it now takes one in every four sports bets placed in the U.S. market. Colorado, Florida, Illinois, Indiana, Iowa, Michigan, Mississippi, Nevada, New Jersey, Pennsylvania, Rhode Island, Washington D.C. and West Virginia are among the states where it currently operates.

“We are very pleased with the trading performance of the group, which has been borne out of the commitment, resilience and hard work of our teams across the business. I could not be prouder of them,” Ulrik Bengtsson, William Hill CEO, said a news release. “We have moved the company forward with our relentless focus on our customers, enhancing the competitiveness of our product, and maintaining player safety as one of our highest priorities.”

On Sept. 30, Caesars Entertainment agreed to purchase the British bookmaker in a $3.7 billion deal. The purchase gives Caesars control of an ever-changing and expanding U.S. sports-betting and online business. It is expected to close during the second half of 2021.

Caesars said it will look to sell its non-U.S. businesses, including about 1,400 retail betting sites in the U.K.

William Hill Active in US

William Hill US has recently opened new locations in Colorado, Illinois, Michigan and Washington D.C., in the third quarter. It has opened a Pennsylvania retail location in October and announced two will be coming to Iowa.

ESPN’s multi-year partnerships with Caesar’s Entertainment/William Hill and DraftKings, announced Sept. 14, gives William Hill link integrations from ESPN’s digital platforms to its sportsbooks in legalized sports betting states,

William Hill in September posted almost $12.2 in sports handle at its Washington, D.C., retail location in Capital One Arena. That was a 33.5% increase working out of a temporary space. It also offered a look at what the permanent sportsbook will look like when it opens in early 2021.

Another East Coast location was added when the William Hill Sportsbook at Harrah’s Philadelphia in Chester opened Oct. 15 with six teller windows, 16 self-service kiosks and an expanded betting menu that features live, in-play wagering.

In Iowa, William Hill is opening a full-service sportsbook at Horseshoe and betting kiosks at Harrah’s Council Bluffs, it announced in a news release on Oct. 20. Bettors can visit either Caesars Entertainment Council Bluffs property to sign up for the William Hill Sports Book app and place bets from anywhere in the state. William Hill received approval last week from the Iowa Racing and Gaming Commission.

Betting News Articles

Latest Betting News

DISCLAIMER: Online Wagering is illegal in some Jurisdictions. It is your responsibility to check your local regulations before playing online. GDC Trading Ltd takes no responsibility for your actions.
© 2011-2020 KAX Media America Inc. All rights reserved. Registered with the New Jersey Division of Gaming Enforcement with Vendor ID #90927.
Terms and Conditions  |   Privacy Policy

Asset 4 Android GET IT ON facebook Download_on_the_App_Store_Badge_US-UK_RGB_blk_4SVG_092917 twitter