William Hill Revenues Soar in Q3

William Hill Online has enjoyed a big third quarter in terms of revenues, although its customers have had the last laugh with some surprising football results.

WH Q3 Results

William Hill Online, the Internet gambling arm of William Hill, enjoyed a 42% increase in revenues in the third quarter. This was aided specifically by a 115% increase in overall mobile gambling revenues.

However, the big quarter was offset by some big wins for punters, which ensured that the leading bookmaker missed its projected forecast of £20 million revenues for the quarter. The company also suffered reduced revenues at its land-based retail shops, which it put down to unseasonably hot summer weather.

CEO Ralph Topping said: "Results were not as favourable as in the comparable period, with outcomes - particularly in football - going the punters' way. Consequently, gross win margins are below the prior year in both major channels, and below normalised expectations in Sportsbook.

Hill's Expansion

William Hill has undergone rapid expansion this year through a number of new partnership agreements, most notably with Net Entertainment - which will supply the leading online gambling operator with a top suite of casino titles.

Hill has been very busy in signing up software suppliers for its William Hill Online platform after buying out Playtech's former 29% share in their joint venture in a deal worth £424 million in the first quarter of 2013.