LONDON (dpa-AFX) - William Hill PLC (WMH.L), a gambling company, reported Monday that its 17-week group net revenue increased 4 percent. The company also said it remains on track to deliver on market expectations for 2017.
In its trading update for the 17 weeks to October 24, the company noted that online net revenue went up 6% with wagering up 13% despite rolling over EURO 2016 and gaming net revenue up 14%.
Retail net revenue was up 3% with growth in both Sportsbook and gaming. US continued to deliver strong net revenue growth, up 30% in local currency.
Meanwhile, Australia posted 2 percent drop in net revenues, but it delivered improved gross win margin, softening a 5% wagering decline.
The company also said it is on track to deliver previously announced 40 million pounds of annualised cost efficiencies by end of 2017, for reinvestment.
Philip Bowcock, CEO, said, 'We have delivered good financial and operational progress so far in the second half. Our Online business has performed particularly well, with UK wagering 14% ahead of last year, in spite of the absence of a major football tournament, and an acceleration in gaming growth.'
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