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Despite the hard economic times in Europe and the UK, William Hill has posted high earnings. Their revenues rose by 6% in 2011 and its operating profits were £274 million despite the fact the 2010 benefited from the World Cup.
One of the main contributing factors of William Hill’s successful year was the fact that consumers were looking for cheap entertainment in as a result of difficult economic times. William Hill saw an upturn in over-the-counter bets in their shops and gambling machines.
William Hill Casino takes over 1 million bets a say which contributed to their 11% growth in over-the-counter bets in the last quarter of 2011 which was an improvement of the 7% of the previous year.
There was an impressive 11% growth in over the counter bets. CEO Ralph Topping was very positive as there were good opportunities for the business as William Hill could start offering products to previously regulated markets.
Topping added,” Going into 2011, we were – like many businesses with a strong presence in the UK – predicted to face a challenging consumer backdrop but our overall performance shows we’ve seen the benefit of being a predominantly low ticket leisure activity.’
William Hill’s produced a 28% increase in online casino operation revenues. This represents a second consecutive year of growth. Operating profits in the division are expected to be 17% ahead at around £106 million.
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Another filed where William Hill managed to excel was their trial of three-screen version of its gaming machines on over 100 betting shops. This gave them the opportunity to boost their marketing efforts.
Inspired Gaming who currently supply 79% of the William Hill estate HD 22 inch dual screen technology will start rolling out these cabinets.
Each one of these machines generated an average of £924 each week in the last quarter of 2011 while wagers were also up 7%. Overall shares were up 5% to 220.85p in morning trading with release of the excellent figures. William Hill is one of the largest bookmakers in the United Kingdom and is listed on the London Stock Exchange.
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