UK-listed bookmaker William Hill saw its online sports betting revenue fall in its H2-to-date trading update, despite online wagering turnover rising double-digits.
In a trading update covering the 17 weeks ending October 24, Hills said group revenue was up 28% from the same period last year, based on a strong performance by online gaming, continued strong growth in its US market operations, and excitement surrounding the Mayweather v. McGregor boxing match.
Overall online revenue was up 6%, driven entirely by online gaming revenue, which rose 14% while sportsbook fell 1%. Despite the poor comparison with last year’s Euro 2016 football tourney, sportsbook handle improved 13% year-on-year. But free bet offers and operating costs rose due to the need to market the hell out of Hill’s sports offering.
Hills CEO Philip Bowcock said the online division had performed “particularly well” and noted that UK market wagering had improved 14% year-on-year despite the lack of a major sports tournament.