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William Hill Gaming Machines Help Online Troubles
Posted by admin
Bookmaker William Hill posted full-year profits in line with analysts expectations on Wednesday as high-stake gaming machines in its shops helped combat a near 20% drop in Internet profits.
The London-based bookmaker said soccer results had broadly evened themselves over the year although cancellations due to last summer's floods, hit horse-race betting. A 15% rise in profits from its 8,400 highly profitable Fixed Odds Betting Terminals (FOBTs) drove a 9% increase in gross win (gain on customers betting) in its betting shops.
The uplift outweighed disappointing profits from its struggling Web site as online operating profits fell by 10.6 million pounds to 50.9 million.
“Its Retail division performed well, driven mostly by FOBTs, Telephone was flat and the Internet division disappointing as a consequence of continuing technology problems,” said analysts at Merrill Lynch.
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