William Hill looks overseas for expansion.
Byline: JAMES BOOTH @Jamesdbooth1
BOOKMAKER William Hill said it boosted revenue yesterday after an expansion drive, despite a poor performance from its UK retail business.
In a trading update for the 17 weeks to 30 April, William Hill said net revenue grew two per cent, which it said reflected a "year of transition in retail and online".
Online net revenue grew eight per cent, which was helped by the acquisition of Swedish online gambling business Mr Green.
US net revenue from the seven states with legal betting on sport was up 48 per cent.
Gaming revenue fell 15 per cent after the introduction of a PS2 maximum stake for fixed-odds betting terminals.
Revenue from its retail business fell seven per cent, causing shares to edge downwards.
AJ Bell's Russ Mould said: "The issue for Hills now is whether online can compensate for weak retail income in the UK and how quickly investments in America can pay-off as a huge market starts to open."
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|Publication:||City AM (London, England)|
|Date:||May 16, 2019|
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