William Hill’s online struggles drag operating profit down 16%

UK bookmaker William Hill’s H1 results were saved by its core retail operations, as the digital division continues to struggle.

For the 26 weeks to June 28, Hills’ overall revenue nudged up 1% to £814.4m, but operating profit fell 16% to £131m. Hills’ much publicized online woes were evident in management’s statement that ‘three of our four divisions are performing well.”

Online revenue was down 3% to £277m, while operating profit fell one-third to £43.4m. Hills noted that it had exited five markets in mid-2015, making for tough comparisons. The late-2015 imposition of new time-out/self-exclusion tools also took a toll on weekly active customers.

Hills’ sports betting story mirrored its rivals: Cheltenham, bad; Euro 2016, good. Online sportsbook turnover and revenue each slipped 1% to £2.23b and £140m, respectively, while gaming revenue was off 6% to £137.3m. Mobile claimed 70% of sports revenue (up from 63%) and 51% of gaming (from 39%).