Jake Banks | 08 Aug 2018

William Hill plans expansion in USALeading online casino and iGaming provider William Hill has announced major plans to expand into the United States. The move may well have been sparked by their less than stellar first quarter results, and now, they are hoping to capitalize on a brand new market.

Following on the US Supreme Court ruling in May this year that US States that want to offer sports betting may now do so, William Hill is leading the way. The first 11 casinos are already offering punters the opportunity to enjoy placing a wager.

Delaware, New Jersey, and Atlantic City are the first to offer this popular past time, with New York, Rhode Island, California, Massachusetts, and Michigan awaiting the processing of their new legislation so they too can offer fans the same betting opportunities in partnership with William Hill.

An Established Name

The brand is already widely recognized, putting it in an excellent position to capitalize on US citizens new freedoms. They plan to offer State Lottery model betting, and mobile app and retail-based options, depending on the specific legislation decided on by the States.

William Hill CEO Philip Bowcock said that it has been a great start to the year since the PASPA ruling was overturned. The brand’s existing business in Nevada has continued to grow, and leads the way within the group, and they continue as the entire States risk management assessor in Delaware. He added that William Hill leads the way in new markets such as New Jersey, and with the launch of their mobile app, the brand expects that they will continue with this trend in other markets such as Mississipi. Bowcock said that the team has done a great job to date, and are engaging in further discussions with the rest of the States.  

H1-2018 Results Not Ideal

The results of the H1-2018 report show a group increase of 3 percent from 2017. They have however made provision for a £882.8m non-cash impairment to their retail segment, following the Triennial Review leading to losses in the region of £819.6m. This is due to the maximum bet size in shops being reduced from £100 to £2 to curb gambling addiction, at the time the group warned that Retail FOBTs gambling is likely to see a 35 to 45 per cent cut in revenue.

2018 Operating Highlights

Despite the challenges experienced, the company has enjoyed a decent start to 2018, and highlights include upward of 1 million online active users during the World Cup, an 11 per cent growth in online revenue, increased sportbook accounts and a 4 percent growth in online gaming.

Bowcock has also reported that the considerable changes in regulations and legislation have given them more clarity regarding the opportunities and challenges the company will face in the upcoming months.

Part of the company’s long-term strategy includes a plan to limit, and in time eradicate, gambling-related problems that plague the industry. An ambitious goal, but one they have a programme to address as the company moves forward into lucrative new markets.

Source:

https://www.gamblinginsider.com/news/5692/william-hill-to-expand-in-us-following-mixed-h1-results