gambling

William Hill Online Reports Profits 50 Percent Profits Increase

William Hill and Playtech joint online venture shows 50% profit growth.

British gambling laws - GamingZion

A revenue report from online gaming provider Playtech for the last fiscal quarter in 2012 showed impressive strong results for all gambling activities except poker.

Most importantly, the Q3 2012 profit share on the William Hill Online joint venture is up by 50 percent year-on-year.

Here are the rest of the numbers required by British gambling laws:

Gross income was up 32 percent year-on-year to EUR 92.7 million from EUR 70.1 million, and up 5 percent on from the previous quarter.

Total revenues were 30 percent year-on-year to EUR 79.9 million from EUR 61.5 million, and up 2 percent from the previous quarter.

Online Casino revenues were up 33 percent to EUR 38.5 million year-on-year from EUR 28.9 million, and up 4 percent on from the previous quarter.

Bingo revenues were up 17 percent to EUR 4.4 million year-on-year from EUR 3.8 million, and up 1 percent on from the previous quarter.

Poker revenues were down 27 percent to EUR 4.1 million year-on-year from EUR 5.6 million, and down 6 percent on from the previous quarter.

Videobet revenues were up 33 percent to EUR 2.9 million year-on-year from EUR 2.2 million, and up 4 percent on from the previous quarter.

Services revenues were up 38 percent to EUR 26.9 million year-on-year from EUR 19.5 million, and up 1 percent on from the previous quarter.

Share of profit in William Hill Online was up 50 percent to EUR 12.8 million year-on-year from EUR 8.6 million, and up 36 percent from the previous quarter.

Playtech Chief Executive, Mor Weizer commented:”Playtech has continued its strong performance into the third quarter, delivering impressive year-on-year growth across the business, in what is usually a seasonally quiet period. Encouraging progress has been made with significant licensee launches, new mobile solutions including the unique mobile hub and mobile bingo application. We anticipate the new poker liquidity programme will improve this part of the business, assisted by further licensee wins.”

Weizer added: “William Hill Online has once again exceeded expectations, proving to be a transformational partnership for William Hill and Playtech. Regardless of William Hill’s as yet undetermined final decision on the call option we remain committed to our important relationship with William Hill and the continued success of WHO going forward.”

Discuss William Hill Online Reports Profits 50 Percent Profits Increase | User Rating