William Hill saw group net revenue increase 6% in the third quarter. This was led by a return to growth in Online following significant investments in the mobile sportsbook offer. Net revenue in retail remained unchanged.
Nicholas Hyett, Equity Analyst at Hargreaves Lansdown:
"Having considered mergers with what feels like every other gaming company around, William Hill finally seem to be knuckling down to the job of turning the core business around. The online business is back in growth, efficiency savings have been identified and the self-service terminal roll-out is complete.
The group has also announced a revamped board this morning. Former Coral and Betfair execs bringing industry knowhow, and Tesco’s Mark Brooker an increased focus on customers.
It’s good to see William Hill betting on the core business again rather than rolling the dice on big strategic moves that have so far failed to pay out."
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