William Hill Profits Surge
Shareholders of William Hill plc (WHM.L) were pleased recently when the company reported a fantastic first-half operating profit up 14% year-over-year.
The online gaming giant is crediting their mobile sportsbook as a primary reason behind the earning surge. Will Hill reported their first-half mobile sportsbook turnover was up 390% from the same period in 2011.
Ralph Topping, chief executive of William Hill, said, “Mobile remains a top priority & continues to outperform our expectations. The William Hill Sportsbook app, which has been top-ranked since its launch in the Apple App Store in mid-February, has delivered more than 40,000 new customers. Our rapidly growing mobile business increased to 22 percent of our Online sports betting turnover & 11 percent of gaming net revenue in the first half.”
Will Hill’s stock price has soared thus far in 2012 on the back of terrific earnings reports and a partnership with Affinity Gaming that gives them control of 55% of sportsbooks in Nevada. That deal marks the 76 year old company’s first direct exposure to the U.S. gaming market.
Share price of Will Hill stock is up 53% in 2012 and 7% since they released their first-half earnings last week.
The company’s innovation and success in the mobile iGaming market is a strong indicator of how important it will be for gaming operators to offer mobile services to their customers in the future.