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William Hill Trading Slow, But Players & Profits Up

Aug 1, 2007
Author: Donna Jordan
Popular online gambling operator and telephone sportsbook William Hill revealed recent trading reports that surmised a decrease in trading activity. However, the poker room relates a rise in player sign-ups and 2% increase in profits.

The pre-tax trading report released Thursday was from the 26-week period ending June 26, 2007. William Hill Poker stated they would resume the buy-back process of shares while their poker and casino operations traverse the rough road ahead.

The company's pre-tax reports showed 6 month profits of GBP 134.2 million, roughly equivalent to USD 272.6 million.

Progress was affirmed in William Hill's establishment of operation in Spain and Italy concerning their joint venture with Codere.

Chairman Charles Scott said: "We are pleased that the Group has seen profit growth in the period, notwithstanding the absence of a major football tournament and the incremental costs of AMLD incurred this year compared to the first half of 2006," relayed company chairman Charles Scott. "Profit before finance charges and exceptional items was GBP 1.2 million higher than last year and earnings per share excluding exceptional items increased by 12 percent."

Despite ongoing system limitations, the company continued to expand it's betting opportunities, adding 5 new arcade games to the inventory for a current total of 25. Online bingo and skill games were also introduced and so far provide encouraging results, especially in the bingo venture.

The poker and casino venues experienced a rough period with the loss of much high-roller activity, however the inclusion of lower limit stakes resulted in a 10% increase in overall rake taken over the final weeks of reporting.

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