William Hill targets World Cup success
BOOKMAKER William Hill is looking to score a boost from the forthcoming football World Cup in Brazil after reporting a 14 per cent dip in operating profit during the first quarter.
Ralph Topping, William Hill’s chief executive, said recent football results had gone against the company, with many of the top teams winning, but the global football tournament should bring a welcome spike in revenues.
“We are very well placed to take advantage of the World Cup opportunity, coming in the second quarter, with an unrivalled football product range, the most downloaded Sportsbook app in the UK and a leading mobile gaming offer for cross-sell,” Topping said.
We are very well placed to take advantage of the World Cup opportunity
Group revenues rose 5 per cent in the first three months of the year but William Hill has suffered from a rise in tax on gambling machines, which went up to 25 per cent from 20 per cent in last month’s budget.
The bookmaker expects the change to cost in the region of £24million and will close 109 of its shops as a result, with a loss of 420 jobs.
It is diversifying its business both online and globally and is betting on further growth in Australia, Italy, Spain and the US.