..

William Hill 3rd Quarter Revenue for 2010 Way Up

Written by:
Aaron Goldstein
Published on:
Oct/21/2010
William Hill

The United Kingdom’s second largest bookmaker, William Hill, reported a rise of 22% operating profit during the 3rd quarter of 2010.  Company officials predicted that operating profit on the year should exceed analysts expectations.

Much of the gains can be attributed to the 2010 World Cup where online betting volume rose 287% over the previous year.  The company took in 23 million pounds (or US$36 million) of revenue during the 3rd quarter from the World Cup alone.

“The group performed strongly in the quarter, even taking into account the weak prior year comparatives,” Chief Executive Officer Ralph Topping said in the statement. “While a number of macro-economic factors leave us cautious in our expectations for 2011, the group is very well placed through the final quarter of 2010.”

William Hill has managed to outperform the UK’s largest bookmaker Ladbrokes in every segment, according to Investec analyst Paul Leyland, who upgraded his 2010 expectations for Will Hill per share by 5.5% to 19.3 pence.

“We are encouraged that William Hill has clearly beaten Ladbrokes (LAD.L) on every line and continues to deliver strong growth in machines,” he said.

Leyland did acknowledge that he would not be changing the 2011 estimated forecasts for now since much of the rise was attributed to an event – the World Cup – that will not take place this coming year.

Just last week, Ladbrokes also reported strong 3rd quarter earnings for 2010

That company reported operating profits of £51.1million over this period and says it is on target to meet the year’s goals.  The numbers are up dramatically from last year’s £22.4million. – Aaron Goldstein reporting for Gambling911.com

Business/Financial News

The War on Bitcoin: Arch Enemies Join Forces

The War on Bitcoin: Arch Enemies Join Forces

It appears the five year Civil War within the cryptocurrency space may finally be coming to an end, at least among some bitter foes, all focusing their attention on what they perceive to be the ultimate enemy, Bitcoin SV.

BuyBSV.com Now Offers Bank Transfers in US & Canadian Dollars

BuyBSV.com Now Offers Bank Transfers in US & Canadian Dollars

BuyBSV.com, powered by Coinify, are delighted to announce that ALL traders can now complete bank transfers to buy Bitcoin SV in USD, CAD & DKK in addition to the Euro and the British pound.

Why Online Gambling Companies Need to Incorporate Bitcoin SV

The gambling industry has a lot to gain by adopting Bitcoin SV, and they can learn how at CoinGeek Live. Jimmy Nguyen talks about what you can expect to see with CoinGeek's Rebecca Liggero.

CoinGeek Live Presents: Cashless Casinos: How Bitcoin Technology Offers A Better & Safer Gaming Experience

Live from studios in both New York and London experts from the iGaming industry gather to talk about the way forward for the casinos across the world. The conference will, naturally, be virtual but it is far more than just ‘Zoom-heads’ on a black background. This panel will not only offer interaction and questions form delegates but also be broadcast live from The Manhattan Studio (NYC) and Kennington Studios (London) from 10:15am EST on Friday, October 2nd. 

No Retail Crypto-Wide Bull Run Likely for Rest of 2020

No Retail Crypto-Wide Bull Run Likely for Rest of 2020

Joel Birch, co-founder of automated crypto investing platform Stacked, says crypto prices may still be weighed down by a difficult global economic atmosphere.  His remarks come as the Covid-19 pandemic continues its stranglehold across the globe with a second surge now occurring in Europe.

Syndicate