William Hill announce further profits
It seems that the sky is the limit for bookmaker William Hill at the moment, as they announce yet more profits.
The United Kingdom's market leaders have released an interim report which shows that they are going from strength to strength throughout 2011. The report details the impressive growth that William Hill has undergone over the last year, leading to enormous profits.
The majority of the growth that is being seen at William Hill stems from their online gaming and mobile gaming channels, which has been driven forward by the excellent performance of the company's sports betting facilities. The interim report that was released by the popular UK bookmaker showed that their online net revenue for the first half of 2011 has reached a gigantic £152.7 million; which marks a 23% increase when compared to the results of 2010.
Many have highlighted that these profits were only made possible by the company's move to Gibraltar in 2009; many believe that this entirely vindicates the decision, which proved to be highly controversial at the time it was taken – the move is thought to have allowed William Hill to save millions of pound in tax, which has contributed to their successes so far this year.
As well as the decision to move to Gibraltar, William Hill is also reaping the profits of their decision to invest in mobile gaming; their revenue growth in this area stands at an amazing 600%.
"I am pleased with both our online performance, which has been driven by outstanding sportsbook growth and innovations in our in-play and mobile offerings,” commented William Hill's Mobile Executive, Ralph Toping.
He added: “Our multi-channel business targets the widest possible audience, and our positioning on pricing and trading, together with our extensive product range and effective use of new technologies, including mobile, combine to present customers with a highly attractive experience."