William Hill’s revenue fell 32% year-on-year in the first half of 2020, to £ 554.4 million ($ 726.2 million).
The sports betting operator attributed the drop to the temporary closure of retail activities and the interruption of sporting events as a result of the new coronavirus pandemic.
Adjusted operating profit was £ 11.8 million, a decrease of 85% compared to 2019. Despite this, the operator recorded growth online. Net online revenue increased by 1%, while international online revenue grew by 17%.
William Hill commented that its virtual growth was due to the successful launch of products and the progressive resumption of sports after the relaxation of social isolation measures.
The operator’s retail operations in the UK were reopened after 13 weeks of suspension. In the last two weeks of June, the company recorded stable net revenue as a result of football’s “off-season” contribution.
William Hill CEO Ulrik Bengtsson said he was “delighted” with the company’s performance during these “exceptional times”. “Our team has been extraordinary, supporting each other and our customers throughout the pandemic. And, I would like to thank them for their continued efforts ”.
Bengtsson added: “Our negotiations were strong before Covid-19, we controlled costs effectively during the blockade and recovered after social isolation with good performances in our online businesses during the first half.”
About William Hill
William Hill is one of the most important betting businesses in the United Kingdom, having been founded in 1934. The company provides services worldwide and has offices in the United Kingdom, the Republic of Ireland and Gibraltar.
In addition, William Hill has approximately 2,300 licensed betting outlets spread across the UK. Therefore, it is the largest operator in the United Kingdom, representing around 25% of the local market.
