Live blog: William Hill H1 2019 financial results
Keep up-to-date with all the latest news regarding the UK operator's half-year results
How is William Hill’s share price doing now?
Investor presentation now over
Stay tuned for more news from William Hill’s H1 results throughout the morning
Now question time for analysts
Synergies between UK and US retail? Prior: We’re trying to align front-ends of retail estate in the UK with the US
Potential for US media partnership? Bowcock: We don’t belive this is about going out and finding a different brand. This is about the database and access to media channels
UK and international future growth? Bowcock: There is a a lot of work going on around affordability in the UK, including behavioural analytics. UK market is growing at mid-single digits and will continue into next year as well. We should be looking for double-digit growth from international business
Online casino plans? Bowcock: Technolgoy stack has been built to plug in a casino. That will be forthcoming
William Hill’s US business
Bowcock: William Hill now exploring US media partnerships
Bowcock: New proprietary tech will enable the operator to deploy quickly across various states. DGE in final sign off stage and will be up and running in time for new NFL season
International online
Bowcock: In recent years William Hill’s international markets had to take a back seat to the UK. Spain and Italy are still sitting on old Playtech/Mobenga – will move to proprietary tech from H2 2019 onwards
Bowcock: Trends in UK market show why it is so important to diversify the business
Philip Bowcock now back on stage to give an overview of William Hill’s strategy
Lessons to learn from FOBTs: address the issues driving public concern and increase collaboration across the industry
William Hill is a grown up betting brand known for its integrity
Regulus Partners gives its take on Hills’ results this morning
“WH has demonstrated that the B2 ban is a controllable (if painful) problem and has acted decisively to move on. Significantly enhanced social responsibility capabilities are also improving sustainability at a manageable short term cost. However, political regulatory pressure in core markets has not gone away, while WH’s international exposure (ex US) is relatively challenging from both a growth and regulatory standpoint, in our view (Nordics, NL; operational underperformance in ES and IT).
This puts WH in a difficult strategic position, in our view: enough positivity to plough on, but not necessarily a strong enough strategic, regulatory or operational tailwind to deliver transformational growth. Increasingly commentators are asking what will happen to a once great name in sports betting – the answer may be not much….”
William Hill guidance for the year
Prior on the operator’s US business
Launching in Iowa and Indiana in the coming weeks
Market share in US is currently 27% against long-term aim of 15%
Hills is the number one non-fantasy brand in New Jersey. Market share for digital was 10% ahead of launch of new proprietary tech platform and without a media partnership
69% of Nevada wagering is now on mobile
CFO Ruth Prior provides a financial overview
Expect Mr Green to deliver strong growth – Sweden trends are now more encouraging. International business will benefit from new Malta team and increased product investment
Mr Green (derives more than 90% of revenues from gaming) has traded strongly so far this year, with the exception of Sweden
“Overall message: We are where we expected to be”
CEO Philip Bowcock starts by giving an overview of Hills’ performance
Bowcock describes it as being a “year of transition”. William Hill now moving towards being a business which is more digital, international and more sustainable.
Making real progress at rebuilding public trust but still much more to do.
Investor presentation now about to start…
https://twitter.com/gamblinglamb/status/1159735118279446528
How have the markets reacted to the results?
Source: London Stock Exchange
William Hill Online H1 revenues (on a statutory basis)
The results are in…
William Hill has just posted its H1 2019 financial results. EGR story here and investor presentation coming up at 9.30 am BST.