William Hill’s online division not quite dead yet

UK bookmakers William Hill have revamped their board after announcing a rebound of sorts in their struggling online business.

Hills released an H2 trading update on Monday, which showed group revenue rising 6% in the 17 weeks ending October 25. For a change, online outpaced retail as digital wagering grew 4% thanks to a 6% bump in sportsbook handle, while retail revenue was flat as wagers fell 5% from the same period last year.

Online sportsbook revenue was up 11% year-on-year thanks in part to an improved win rate. The sports gains offset a 2% fall in gaming revenue, although that’s an improvement over H1’s 6% decline. Average revenue per user is up 16% while average wagering per sportsbook active customer gained 17%.

On a geographic basis, Hills’ core markets of the UK, Italy and Spain saw revenue rise 2%, while other markets improved 22% and Australia rose 27% on a local currency basis despite less than optimal racing results. The William Hill US division continues to shine, with handle up 10% and revenue rising 52% thanks to good baseball and football results.