UK bookmaker William Hill started 2016 on a sour note, dragged down by a lackluster online performance.
In a trading update released on Wednesday, Hills said overall revenue had fallen 3% in the 17 weeks through April 28. While its retail, Australian and US operations all showed positive momentum, overall online turnover fell 2% and online revenue was off 11% from the same period last year.
Online gaming revenue was down 4% while sports betting was off 17%, which the company blamed on punter-friendly European football results and the widely publicized bookie disaster that was this year’s Cheltenham Festival.
Online sports turnover in the UK was down 2%, and Hills said the business continues to suffer from the new rules regarding customer time-outs and self-exclusions. Hills’ operations in Italy and Spain posted double-digit turnover growth but ‘other markets’ reported online stakes falling 13%.