William Hill is proud to boast a 6% rise in annual revenue, which leads the firm in deciding whether it will pursue its online joint venture with Playtech this year. The iconic betting operator is also looking to expand outside of the U.K to increase its presence.
According to an article in The Telegraph, Ralph Topping, CEO of William Hill has already put together a team to move forward with negotiations with Playtech. He said there may be an agreement by the end of summer. The article refers to the rocky relationship between the two companies following the walk out in Israel, Bulgaria and Manila and states that this could be behind them now.
Ralph Topping William Hill’s Chief Executive Officer feels things in his domain are getting even better. Topping says the average bet placed in the William Hill’s 2,370 betting shops is just £3 to 4. “I think you are seeing the working man saying that some of his pleasures are just not going to be foregone. He’s not spending on a new car and might be cutting back on holidays but he needs a bit of brightness in his life.” A company statement read, “Opportunities are opening up for William Hill to take its expertise into new territories.”
Looking ahead into possible regulated markets looks like it could be the next move. Topping told investors that the company is “convinced we should be expanding” into newly regulated territories. “Ideally, it would be a multi-channel operation, but online is also attractive to us.”
The firm currently derives 92% of its revenues from the operation in the United Kingdom and expects to expand its offerings in that jurisdiction. The company will create as many as 200 new jobs for U.K. residents with its plan to open 30 to 40 more betting shops in the year 2012.
Topping optimistically said expansion is in the cards for the company. The strategic plan is to invest in new venues and jurisdictions.
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