William Hill, the UK's second-biggest bookmaker chain, has made a strong run back into the black.

TheGeneral+ · Sep 8, 2003

William Hill, the UK's second-biggest bookmaker chain, has made a strong run back into the black.

It has reported first half profits of £85.6m, compared to a loss of £12.2 m previously and analysts' expectations of some £88m.

It said its pretax figure, before exceptional items, came in 27% higher at £11.4m.

The company, which runs 1,600 betting shops and also has telephone and online gambling operations, was floated in June last year.

Turnover climbed by 72% to £2.741bn, compared to £1.593bn 12 months ago.

It put up its interim dividend to shareholders by 21% to 3.5 pence a share.

Chairman John Brown said: "The group has achieved a strong growth in profitability and cash flow...against a demanding comparable period.

"The board remains confident about the group's future prospects and has accordingly decided to pay a significantly higher interim dividend."

!

acw · Sep 8, 2003

compared to a loss of £12.2 m previously
I did not even know that they did have a loss.

Turnover climbed by 72% to £2.741bn
This is some US$4bn. Roughly US$160m a week. And that is only William Hill. Add Ladbrokes and BetFair to it, then England exceeds a place like Hong Kong. No wonder the best gamblers in the world live in England.

I should start moving.

peskypup · Sep 9, 2003

acw,

don't bother you won't like the juice they suck out!! -120 is standard, worse on some sports.

VG789 · Sep 9, 2003

I ve never met any "wise guy" from England,they do nothing but betting on or against their city team,a lot like BTJ

Sodium Pentethol V · Sep 9, 2003

acw you're hilarious you know it.

yea England and HK gambling capitals of the world.

is why WH left the US market tail between legs?
is why the lines still originate in the carribean?

is why there was $15bill bet legally alone in the US on racing last year, estimates are that is double including offshores.

But HK and England are the world's capitals for gambling.

yea man, good one, still think Pinny is moving off of pointbet moves or some such bullshit?

entropy · Sep 9, 2003

then England exceeds a place like Hong Kong. No wonder the best gamblers in the world live in England.

what bullshit acw. does total lunatic ring a bell. even in his best year the one you call "god" did not approach the PROFITS of the computer teams in HK.

Sodium Pentethol V ?

is why the lines still originate in the carribean?

what lines -- for US sports maybe but even pinnacle follows the Asian bookies for soccer.

i suspect the Asian market for soccer alone would dwarf the US across all sports, and Japan alone for racing.

acw · Sep 9, 2003

don't bother you won't like the juice they suck out!! -120 is standard, worse on some sports.

peskypup,
How about BetFair?

acw you're hilarious you know it.

Sodium Pentethol V,
I am always serious.

is why there was $15bill bet legally alone in the US on racing last year, estimates are that is double including offshores.
I will be going to England for the racing. (I can bet on European football from anywhere in the world, so why move?) Now you make me confused. Maybe I should move to America then?

and Japan alone for racing.
Please do not tell me that I will end up making a trip around the world.

The movers just came in. So should they be packing for:
A) England
B) the USA
C) Japan

Oceans11 · Sep 9, 2003

Simply put.

70% slotmachines.
Large number of chinese guys love roulette.

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William Hill yesterday accused the Government of being inconsistent on gaming deregulation as it became the latest bookmaker to hit the jackpot from fixed odds betting terminals (FOBTs).

The bookmaker said its 2,525 terminals contributed two thirds of the 18pc increase in "gross win" - or the amount punters lose - to £324m over the latest six months. Most of the increase was due to punters playing virtual roulette, which accounts for over 80pc of all betting on the machines.

The risk to William Hill and other bookmakers is that the Gaming Board has launched a court challenge against the roulette game, claiming it should not be permitted in betting shops. Meanwhile, the Government wants to reduce the maximum payout on the machines to just £500, a fraction of current jackpots, claiming they cause problem gambling.

David Harding, William Hill's chief executive, said: "There's no evidence of problem gambling. The Government isn't consistent. They have just said they are going to sanction large casinos where people can drink and bet. If you are really worried about problem gambling you don't mix booze and gambling."

He stressed that the Government is "not going to ban the terminals", adding that, if roulette had to go, "we will innovate and bring in new games". Analysts were less convinced, however, that William Hill could find a similar money-spinner to virtual roulette. His comments came as William Hill unveiled a sharp increase in half-year profits before tax, reversing last year's £12.2m losses to post £85.6m profits.