Betting operator William Hill has announced its trading statement for the year 2016 to date.
The company reported that online markets have experienced growth slower than expected but retail gaming machine performance has seen nine per cent growth.
The company’s brand in Australia has shown positive results, with wagering up 22 per cent, actives up one per cent and new accounts up 46 per cent.
Altogether, group net revenue is down three per cent.
Online results have reportedly been negatively affected by losses at Cheltenham, customer-friendly European football results and continued declines in non-core markets. Online net revenue saw a decline of 11 per cent and sportsbook was down 17 per cent.
Retail results were more positive, benefiting from English Premier League football results. The gross win margin was 0.6 per cent ahead of the previous year.
Wagering in the company’s Australian market increased by 22 per cent, with returns generated from a partnership with the Australian Open tennis tournament. Amounts wagered in the US up by 31 per cent, with win margins benefited by a positive Super Bowl result in February.
CEO James Henderson said: “It has been a tough start to the year in online, which is being impacted by both regulatory change and a gross win margin below normalised levels for the period due to a disappointing Cheltenham festival and unfavourable European football results. Trends in recent weeks remain in line with the guidance we gave in March.
“In retail, it is pleasing to see gaming growth improve again and we are on track with the roll-out of our self-service betting terminal before the Euros, allowing us to bring the best of online to our shops ahead of a big summer of sport. Australia is showing benefits of our improved offering and strengthening brand in the market, and the US continues to be strong.”
