William Hill said new gaming machines and demand for bets during sporting events has helped it deliver a sharp rise in profits.
The bookmaker, which employs 16,000 people and has 2,350 betting offices, reported “outstanding growth” from online operations and said its retail division made a positive contribution despite consumer uncertainty.
Operating profits rose 7% to £276.8 million in the year to December 28 after revenues lifted 7% to £1.07 billion. Including one-off items, pre-tax profits jumped 60% to £193.3 million.
In its second year of operation, William Hill Online saw revenues leap 24% to £251.5 million after it benefited from strong growth in sports betting, with amounts wagered up 57% year-on-year. This included a 114% rise from in-play betting after William Hill ramped up its offering with the support of adverts during televised fixtures.
Amounts wagered in betting shops grew 8% year-on-year after the roll-out of new gaming machines helped offset a 3% drop in over-the-counter stakes.
Favourable football results, particularly in the second half of the year, resulted in a gross win margin for the firm of 17.9%, at the top end of its normal trading range.
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