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Positive Q1 results for William Hill

Positive Q1 results for William Hill

William Hill Plc, owners and operators of , William Hill Sportsbook amongst others has released its interim statement for the first quarter 2011 ending 29th March and has revealed a total increase in revenue of 11% and an increase in revenues of 26% of the online division.

Ralph Topping, Chief Executive, said, “We have seen excellent growth across our business in the first quarter, enabling us to remain confident in our expectations for the full year. It is particularly pleasing that, alongside a continuing strong performance from William Hill Online, we have seen growth in both net revenue and Operating profit in Retail.”

“We have much to look forward to in the existing business and are also excited by the land-based opportunity in the US, where we recently made our first significant investment,” he said. According to the press release the Sportsbook has performed strongly with a net revenue of 54% compared to Q1 2010. The increase was dude to a 62% increase in amounts wagered which included a massive growth of 786% in mobile betting amounts wagered.

The three gaming verticals have also shown positive growth of 15% with William Hill Bingo up at 30% while the Casino and Poker brands showed a 16% and 13%, respectively year on year. In total, net revenue for Q1 2011 was up by 26% as compared with Q1 2010.

William Hill also announced that it has signed an agreement to acquire the US based sports-betting businesses American Wagering and the Club Cal Neva Satellite Race and Sportsbook Division for $39 million and the deal is expected to be finalised in 2012. The company expects group performance to continue in the same positive vein as Q1.

Written by Debbie Hall for Online Keno – your best source for online casino promotions

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