William Hill, the betting company, has revealed how mobile technology innovation has helped drive a 23 percent increase in pre-tax profit in the first half of 2011.
The company reported a profit of £126.9 million in the 26 weeks to 28 June 2011, compared to £103 million in the same period last year.
Ralph Topping, chief executive of William Hill, said: “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, and the strength of our retail business, which continues to benefit from the popularity of machines and the resilience of over-the-counter betting.”
In its results, the company said that innovations in mobile betting had delivered more than 600 percent growth in net revenue to £3.7 million.
It added that its online division had “continued to deliver excellent results” in the first half of 2011. Despite increasing its costs in online by 23 percent, due to new product development and increased IT and operations resources, the digital business recorded a 24 percent increase in operating profit from £44.9 million last year to £55.9 million in 2011.
Sportsbook, William Hill’s sports betting product, led the company’s online growth, with the amounts staked increasing 51 percent year-on-year.
Moreover, mobile betting accounted for seven percent of Sportsbook net revenues, and the company plans to launch more mobile offerings in the second half of the year, relating to both betting and gaming products.
“Mobile betting is benefiting from a series of innovations, including our exclusive relationship as the betting partner for the Racing Post app,” William Hill said.
Meanwhile, Topping was positive about the company’s future. “We look to the second half of the year and beyond with confidence. 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.”