- William Hill is a U.K. based sports betting provider.
- William Hill has active partnerships with U.S. casinos that operate in states with legal online sports betting.
- William Hill was recently announced as a sports betting partner of the NHL.
TALLAHASSEE, Fla. – The effects of legal sports betting in the U.S. can be felt across the world. This is especially true for U.K. based bookmaker William Hill. The company as a whole was able to report revenue growth this past quarter, despite a poor performance back home.
Overall, revenue for William Hill rose 2% and online revenue grew 8% thanks to a strong showing from U.S. sports betting sites.
William Hill currently operates sportsbooks in seven US states. This includes the online sports wagering platform provided by Monmouth Park in New Jersey. Last month sportsbook was able to generate the second highest profit in the state, led mostly through mobile bets.
In the William Hill trading statement, the company reported a 48% increase in total net revenue from US operations and highlighted its continuous growth in the US sports betting market.
“Just one year since PASPA was overturned William Hill has doubled the sports wagering it handles in the US, seen record performances at the Super Bowl and March Madness, is live in all seven states to have allowed sports betting and expects to enter further states soon, with Indiana and Iowa the most recent states to pass bills to legalize sports betting,” said Philip Bowcock, CEO of William Hill.
The achievement was much needed, as new regulations in the U.K. have significantly limited the profitability of land-based sports wagering.
Retail gaming net revenue for William Hill fell by 15% and was mostly due to the 2-pound stake limit that is now enforced on gaming providers with fixed odds betting terminals (FOBTs). The former stake limit was 100 pounds. The initiative came as a means to combat problem gambling.
The U.K. accounts for about 90% of William Hill’s total business.
“The impact of the introduction of the 2-pound stake limit has been in line with our expectations. We are confident in our plan to manage this major change, and will update more fully at the half of the year,” said Bowcock.
Expansion in the U.S. seems to be a major part of that plan.
In March, the NHL announced a multi-year partnership with William Hill.
“Commissioner Bettman and his team at the NHL have been at the forefront of understanding opportunities to engage fans through sports betting,” said Joe Asher, CEO of William Hill US.
“Combined with our existing partnerships with the Vegas Golden Knights and New Jersey Devils, we are extremely excited to continue to build our relationship with the NHL.”
If revenue from retail sports betting in the U.K. continues to decline, U.S. partnerships will be crucial for William Hill.
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News tags: Revenue | William Hill
– In his career, Hasan has worked both local and state government positions—including the Attorney General’s Office in Florida. On top of being familiar with the legislative process, he has also been researching and writing on the legality of sports betting across the US. Outside of work you’ll most likely find him producing or playing music, playing sports, or working on creative writing projects. You’ll also catch him at Doak Campbell Stadium cheering on the Noles.
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