William Hill 2015 revenue slips as online director heads for the exits

UK-listed gambling operator William Hill suffered a slight revenue dip in 2015 and announced the departure of a top online executive.

In a trading update released on Thursday, Hills said group revenue slipped 1% to £1.59b in 2015, with most of the pain coming at the retail level and its Australian and non-core online markets. But full-year operating profit of £290m was in line with market expectations, despite paying £87m in additional UK taxes last year.

Total online revenue in 2015 was up 4% to £550.7m, with core markets – UK, Italy, Spain – up 11% to £483.7m. Non-core markets fell 27% to £67m. Hills’ retail revenue fell 2% to £889.5m, William Hill US was up 12% to £33.7m and the telephone wagering division rose 5% to £12.4m.

Hills’ Australian online betting division slipped 20% to £97.9m thanks to the ongoing restructuring under a single brand. But Q4 saw a 46% rise in active customers and new accounts were up 221%, leading to “single-digit” growth in betting handle during the month of December.