Improved mobile Sportsbook returns Online to growth
14 November 2016
William Hill PLC (LSE: WMH) (William Hill or the Group) announces a trading update for the unaudited 17 weeks from 29 June to 25 October 2016 (H2 to date) and the 43 weeks to 25 October 2016 (year to date or YTD).
Sportsbook net revenue in H2 to date was up 11%, with amounts wagered up 6%. The gross win margin was slightly higher than normal at 8.4%, benefiting from favourable football results. Gaming net revenue was 2% lower, an improvement from the 6% decline seen in H1 while changes to enhance our gaming experience are ongoing. Within the core markets, UK amounts wagered returned to growth, up 4%, and continued improvements to our products and marketing in Italy and Spain contributed to 16% growth in net revenue on a local currency basis.
Our performance in Australia continues to improve. On a local currency basis in H2 to date, amounts wagered increased 14% and net revenue increased 27%
Our US business continues to perform strongly. In local currency terms in H2 to date, amounts wagered was up 10% and net revenue was up 52%