Net revenues at William Hill were boosted by bookmaker-friendly sporting results during the opening quarter, though bettors were found less likely to re-spend their winnings.
Wagering was impacted by “reduced recycling”, while the company said it also suffered through 15 per cent of UK and Irish horse racing fixtures being abandoned during a period featuring “unusual wagering and gaming trends”.
Online net revenue was up by 12 per cent, with sportsbook rising by 17 per cent and gaming by eight per cent, contrasting with retails where net revenue was down four per cent, with gaming flat and sportsbook reduced by nine per cent.
"Continued momentum in online and strong growth in the US have driven a good performance during the period,” said William Hill’s CEO Philip Bowcock.
“In the UK, an unprecedented run of bookmaker-friendly sporting results led to unusual wagering and gaming trends, which we expect to normalise over time. The sale of our Australia business (for AUS$313.7m) has further strengthened our balance sheet.
"While we await the outcome of the UK Triennial Review and the Supreme Court's decision on US sports betting legislation, we remain focused on continuing to deliver a great customer experience, particularly ahead of this summer's World Cup."
