William Hill US revenues up 33% on B2B gains
Group CEO Ulrik Bengtsson says firm likely to launch its online gaming platform in the US this year
William Hill has hailed the US as the group’s biggest opportunity as its net revenues in the market increased 33% year-on-year (YoY) in 2019 to $161.7m.
The UK bookmaking group reported its B2B arm accounted for 8.6% of the overall US business, with revenues surging over 100% YoY to $13.9m.
Operating profit for the period was $1.6m after considering high operating costs of $143m, up 31% from 2018.
Slide from the WH FY19 presentation
Profits were offset by a one-off gain of $13.5m following the sale of its equity interest in The Stars Group in H1 19.
The firm increased its investment in the US by 54% YoY to $45.1m on the launch of its proprietary sports betting platform built in New Jersey.
Group CEO Ulrik Bengtsson said 55% of all bets had been handled online and the group’s US market share had increased to 24% during the period.
Online gaming will likely launch in the US this year, Bengtsson told EGR.
“It is a continuous process to build a platform, but it performs really well for us during high peak loads in New Jersey and we will continue to roll it out throughout the year,” he said.
He said the integration of CG Technology and Caesars’ sportsbooks would also start in 2020, dependant on final regulatory approvals. Hills acquired Las Vegas-based CG Technology’s betting platform in November last year.
William Hill signed a media partnership with CBS Sports in February under which CBS will promote Hills’ odds via multiple platforms and grant the operator access to its fantasy sports users.
Bengtsson told EGR William Hill odds would likely be presented during CBS Sports’ coverage of NFL games, for example.
“It could also be presented in the fantasy environment, where you put together your team and alongside that have William Hill odds and the ability to place bets,” he said.
“There are a whole range of interactions in that digital ecosystem once we integrate our product, including all the link-outs to our sites from the online properties that CBS has.”