The gambling giant William Hill announced profits for the past year are expected to have exceeded expectations after it was buoyed by positive sporting results in December 2019. The annual profit calculation is between US$185.8 and US$192.29 million, an increase regarding original forecast of US$168.91 million. The company stated it made “good progress” despite a challenging regulatory backdrop which saw its retail business hit by a heavy reduction in the maximum stake for fixed-odds betting terminals (FOBTs).
According to the bookmaker, retail arm was boosted by good sporting results in December, while the company’s gaming division also performed strongly. UK online revenues grew in line with market expectations over the quarter, while net revenue was broadly flat in its international online business. The US business continued with robust progress in the fourth quarter on the back of investment and increased wager size.
Chief executive Ulrik Bengtsson affirmed: “The group has delivered a strong operating performance, ahead of our expectations and against a challenging regulatory backdrop. We made good progress on a number of fronts, including our retail business, online and in the US, enabling us to deliver on our long-term strategic ambitions. We look forward to building on these efforts in 2020 with a strong focus on customer, team and execution.”
William Hill plans to release its full financial results for 2019 on February 26th, 2020.