We use cookies to provide you with a better experience. If you continue to use this site, we'll assume you're happy with this. Alternatively, click here to find out how to manage these cookies

hide cookie message
RSS FeedChange Management

William Hills reports upturn in over-the-counter betting


Bookmakers experiences 11 percent increase in final quarter

Article comments

Bookmakers William Hill benefitted from an upturn in bets placed over-the-counter and money taken from its gambling machines towards the end of last year.

The company reported 11 percent growth in bets made in its stores for the fourth quarter of 2011 compared with 2010, and a 7% rise in profits from its gambling machines.

Chief executive Ralph Topping told Reuters that the company was predicting a “challenging consumer backdrop”. However, he added, “overall performance shows we've seen the benefit of being a predominantly low ticket leisure activity".

The performance contrasted with weak performances from British retailers who have struggled to negotiate tough trading conditions.

Shares in William Hill, which have outperformed the FTSE All Share Travel & Leisure Index by over 40 percent in the past year, were up 5.9 percent to 222p this morning, the top riser in the mid-cap index .

"The group's exposure to the 'low ticket leisure activity' of sports betting has helped it to perform steadily in a tough year and it will continue to invest for the future," said Langton Capital analyst Mark Brumby.

Share:

Comments

William Hills reports upturn in over-the-counter betting
Change Management

How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale valuemore ..


European IPO markets reaches pre-recession levels

At least 15 IPOs with over €250m proceeds are planned before the end of the summer, PwC saysmore ..

BG Group relocates trading HQ to Singapore

Oil and gas company says it wants to get closer to “high growth” LNG marketsmore ..

Chicago Sun-Times first major US paper to accept bitcoins

Backed by Coinbase, the move is part of a digital-first strategymore ..

Will the new tax breaks help Britain’s VFX and film industries?

Alex Hope, MD of Double Negative, explains what the autumn statement really means for UK VFXmore ..

How to improve your annual report

Regulators recognise the value of storytellingmore ..

Send to a friend

Email this article to a friend or colleague:


PLEASE NOTE: Your name is used only to let the recipient know who sent the story, and in case of transmission error. Both your name and the recipient's name and address will not be used for any other purpose.



In Depth
How M&A teams can create value by challenging the CEO

How M&A teams can create value by challenging the CEO

A typical “hold” period of nine to 18 months can generate increased sale value more ..

In Depth
What every company needs to do about big data?

What every company needs to do about big data?

In the first of a three part series, Pat Brans explores just how big 'big data' will get? more ..

Advertisement

* *