UK bookmaker, William Hill, has reported that its strong momentum across the US market has contributed to a rise in revenues for the group as detailed in a trading update for the unaudited 17 weeks to 30 April 2019.
The bookmaker reported that its total net revenues for US operations jumped by 48 per cent in Q1, with operations now live across seven different states.
Philip Bowcock, Chief Executive Officer, commented: “Just one year on since PASPA was overturned William Hill has doubled the sports wagering it handles in the US, seen record performances at the Super Bowl and March Madness, is live in all seven states to have allowed sports betting and expects to enter further states soon, with Indiana and Iowa the most recent states to pass bills to legalise sports betting.”
In addition to a growth in net revenues, William Hill has also reported a 65 per cent jump in the amounts wagered at sportsbooks across the US.
The statement details: “Our US business delivered excellent growth in the period, with amounts wagered directly with William Hill up 65% (local currency +55%) and total net revenue up 48% (local currency +39%).
“Total wagering handled by William Hill US, including operations where William Hill is a service provider or a direct operator, was 99% higher than the same period in 2018 in local currency.”
William Hill, overall, reported that it had processed in excess of £8bn in sports wagers during 2018, and that the company had continually pushed for sustained growth and market share across the United States.
During Q1, William Hill US recognised that its recent strategic partnerships with the National Hockey League (NHL) and Eldorado Resorts are expected to deliver a continual strong momentum for the remainder of 2019.