Online Gambling at William Hill Continues as Profitable

Increasing demand for gambling online has seen a 20% leap in profits recently at William Hill a popular online gambling establishment. The company reports that due to new regulatory demands, the company may consider withdrawing its operation from Germany.
The book maker announced that it is under deliberation as to whether it will close its German business this year. William Hill is currently worth roughly £6million per annum in profits. Recently, they report that a new, stricter, gambling regulations have prompted the company to close its sports betting site in Germany just last year.

The company had recently announced that profits had grown favorably by 20% to an astounding £330 million by January 1st, in stark comparison to last year, boosted by an amazing 12% upsurge in the profit margin and group revenues.The actual online profit jumped 27% last year, while the earnings for the company’s retail outlets increased by 6% that same year.“Performance was outstanding in the retail area, and the profits continued to grow substantially online  we saw excellent success with both the sporting channels,” he reported. “It was a year of many firsts, we made outstanding achievements in both the Sportingbet’s online outlet in Austrailia, as well as the current Playtech call option operation that will complete by beginning of 2013.
In December of this year, William Hill deferred a formal offer in the works from Sportingbet, saying that the deal would be part of a new foundation for its betting operations future plans.

Conjunction with GVC would bring much more lucrative profits, with less involvement in the UK market, with more opportunity for online earnings.

In addition, the company is looking at a possible acquisition of its other joint operation with Playtech. William Hill remarked that an evaluation conducted by 3 banks, one by William Hill, one by Playtech and an independent company, would be concluded towards the end of February.

The next step would be to consider whether to open options for the Playtech holdings of the William Hill Online, one the largest online gambling establishments in Europe. Analysts report that the final decision will depend on the cost. The current estimates range from £30million to as much as £485million.

January 31, 2013 by : posted in Gambling News No Comments