William Hill issued a commercial release for the fourth quarter, ended December 29, 2020. Total net income increased 9% in that period, driven by a strong result in sports betting, which rose 20%.
Despite having a positive ending, overall revenue for 2020 fell by 16% to £ 1.3 billion, reflecting the impact of the suspension of sporting events at the beginning of last year.
Therefore, the group said it expected a loss of £ 30 million compared to last year in its physical sector due to difficulties in operating its 1,414 gaming houses during the pandemic.
On the other hand, online revenue increased by 5% in the UK and 12% in its international markets after the launch of the Swedish online gaming group Mr. Green in two new regions.
William Hill also benefited from the increase in online betting with the return of live sports, along with a number of favorable results. Thus, sports betting jumped 16%.
The planned acquisition of the group by Caesars Entertainment, its partner in the North American joint venture, received the necessary support from shareholders in November and is expected to be completed in the second quarter of 2021. In addition, the company claimed that the net profit from its operations in the United States increased by almost a third (32%).
CEO appreciates the commitment of the entire William Hill team
“In fact, 2020 was a year unlike any other. And, it tested our agility and flexibility, and we passed, keeping our team safe, while significantly improving our competitive position with product improvements and geographic expansion” , said CEO Ulrik Bengtsson.
He added: “The offer received acknowledges the substantial advances we have made, as well as the opportunities that lie ahead. I remain immensely proud of our team, which has focused on providing our customers with excellent products and services, with player safety first. Client, team and execution have been our priorities in this unusual year and will continue to be during 2021 ”.
