William Hill Moving Fast In American Sports Market
By Community | March 4, 2019
William Hill has been quick to grow its American business following the legalisation of sports betting in the USA.
The UK-based betting company’s business is now live in six states, with access secured to 17 states in total, and a 34% market share by revenue across all seven regulated states in these early stages. Net revenue from existing American business was up 42%.
Overall, William Hill, with about 2,3000 betting shops in the UK, on March 1 announced group net revenues up 2% to £1.621 billion in the latest financial year, while operating profit slipped 3% to £266.8 million.
William Hill CEO Philip Bowcock said the company has been “first out of the blocks in all states that have regulated sports betting.”
In a statement on the American outlook, the company said: “Through carefully selecting strategic partners and key suppliers in the US we have been able to diversify into all states currently regulating sports betting and have the ability to expand quickly into other states as they regulate.”
As well as having an established brand name in the States through its existing Nevada business (begun in 2012), William Hill became the first business to agree a sponsorship deal with a major American franchise, with the Vegas Golden Knights of the NHL, and it has a similar agreement with the New Jersey Devils of the NBA.