Online Casino Transfer: News - Year End for Will Hill

03/13/2010		Online Casino Style: News Year End for Will Hill - 2
Home History Games News Dictionary		continued from Year End for Will Hill - 1 William Hill Online seems to be gaining speed with players, as 665,000 new accounts were opened in 2009; an increase of 28 percent. Gaming products, in particular, did very well, achieving a net revenues growth of 95 percent during the year. Online casino games saw an increase in net revenues by 120 percent, while bingo also jumped up 41 percent. New accounts in both sub-divisions were also up, with 39 percent more growth in new accounts for casino games and 63 percent more in bingo. Poker monies saw a jump of 36 percent over the 12 months period, demonstrating that working with the other online projects was far more beneficial than WH’s previous stand-alone poker line. Comparatively, William Hill’s land sector did not do nearly as well as their online gambling work, bringing the year’s total numbers down. Fifty five new licenses were signed for betting venues throughout 2009, but 14 were closed in Ireland during the same period, and the other 35 shops in Ireland are currently under review. Gaming machines and favorable football results only barely balanced out the losses in over-the-counter wagers. By far, telephone betting was down the worst: seeing a loss of £1.8 million for the year. According to Topping’s statement, William Hill across the board hoped that this year’s World Cup football tournament in South Africa would bring in some much needed revenue in their more traditional venues. He made a conservative estimate of about £10 million in profits from the event, if optimism in the industry can be kept up, encouraging gamblers to play. He was able to verify that net debt had gone down, for contractual purposes, to £602.6 million, a clear improvement following last year’s rights issue. Trading will continue to be a struggle for some time, adding even more pressure to the online gambling division holding the company up. Adjusted earnings were down 20.6 pence a piece, compared to previous ratings of 31.9 pence a piece. The year end report also took note of the company’s £10.2 million in integrations costs for the establishment of their online gambling sector, as well as a loss totaling £20.5 million on legacy hedging arrangements.

03/13/2010

Online Casino Style: News
Year End for Will Hill - 2

continued from Year End for Will Hill - 1

William Hill Online seems to be gaining speed with players, as 665,000 new accounts were opened in 2009; an increase of 28 percent. Gaming products, in particular, did very well, achieving a net revenues growth of 95 percent during the year. Online casino games saw an increase in net revenues by 120 percent, while bingo also jumped up 41 percent. New accounts in both sub-divisions were also up, with 39 percent more growth in new accounts for casino games and 63 percent more in bingo. Poker monies saw a jump of 36 percent over the 12 months period, demonstrating that working with the other online projects was far more beneficial than WH’s previous stand-alone poker line.

Comparatively, William Hill’s land sector did not do nearly as well as their online gambling work, bringing the year’s total numbers down. Fifty five new licenses were signed for betting venues throughout 2009, but 14 were closed in Ireland during the same period, and the other 35 shops in Ireland are currently under review. Gaming machines and favorable football results only barely balanced out the losses in over-the-counter wagers. By far, telephone betting was down the worst: seeing a loss of £1.8 million for the year.

According to Topping’s statement, William Hill across the board hoped that this year’s World Cup football tournament in South Africa would bring in some much needed revenue in their more traditional venues. He made a conservative estimate of about £10 million in profits from the event, if optimism in the industry can be kept up, encouraging gamblers to play. He was able to verify that net debt had gone down, for contractual purposes, to £602.6 million, a clear improvement following last year’s rights issue.

Trading will continue to be a struggle for some time, adding even more pressure to the online gambling division holding the company up. Adjusted earnings were down 20.6 pence a piece, compared to previous ratings of 31.9 pence a piece. The year end report also took note of the company’s £10.2 million in integrations costs for the establishment of their online gambling sector, as well as a loss totaling £20.5 million on legacy hedging arrangements.