William Hill has released their latest trading update regarding its full-year financial performance revealing that it expects total net revenues for the 53-week period to be 12% higher year-on-year.
The online gambling giant is due to release its official fourth-quarter and full-year results on the 1st March and anticipates reporting that its overall operating profit for the twelve months to the end of December had risen 20% when compared with the same period in 2011.
William Hill stated that its 2012 performance had been ‘strong’ with operating profit expected to be approximately £330 million helped in part by a 27% year-on-year boost in online net revenues alongside a 6% rise in retail earnings.
The operator disclosed that online sportsbook net revenues for 2012 are expected to be up by 50% year-on-year due to a 36% boost in amounts wagered and a gross win margin that improved almost one percent over 2011 to 7.9%.
In addition, it anticipates reporting a 14% improvement in gaming net revenues due to ‘good performance’ from its Playtech Casino and Vegas Casino brands.
Online operating profit for the year is expected to be up by approximately 36% year-on-year to around £145 million, William Hill divulged, while the non-controlling interest held by software developer Playtech Limited is due to amount to £12.3 million for the final quarter of 2012 and £41.2 million for the entire year.
Source: gaming-awards.com
