William Hill Online sees 35% earnings hike

BRITISH bookmaker William Hill has reported excellent business on its online platform among its Irish customers, as part of a trading update for the 13 weeks to the end of December.

The company – which has a retail presence of 35 shops around the country – said that its William Hill Online division delivered a strong performance in the fourth quarter and that full-year earnings before interest and tax (EBIT) for that part of the overall business were up by approximately 35%. Group net revenue, yesterday’s update added, was up by 6% in the final three months of the year and by approximately 4% for the full year.

A spokesperson for the company said that there are no plans to alter its number of Irish retail outlets, after it closed around 15 under-performing stores last year. They added that much would depend on the recovering state of the Irish economy, but that management would continue to “watch with interest”.

William Hill’s share price rose yesterday on the back of it, also saying that betting margins from sports results had recovered.

Meanwhile, Paddy Power has declined to comment on whether or not it has any interest in increasing its share of the Australian online betting market, via a bid for the Northern Territory-based company Centrebet – which has a 22% share of the market.

Paddy Power has a 42% share of the Australian online market through sector leader, Sportsbet – which it acquired last year.

Centrebet was, earlier this week, asked by the Australian Stock Exchange to explain a 21% increase in its share price to which it replied that it is looking to grow via consolidation either as an acquirer or a takeover target. The likes of Ladbrokes and William Hill have both been linked to the business.