William Hill's online punt
Saturday 02 March 2013
William Hill's chief executive Ralph Topping said the bookmaker could swell to a £5bn business within five years as it spent £424m yesterday to take full control of its booming online operation.
The deal – buying out software firm Playtech's 29 per cent stake – gives it a freer hand to invest in the online business, valued at £1.5bn.
The bookmaker is currently worth £2.9bn and on the fringes of the FTSE 100. Mr Topping said: "I don't think it is beyond the realms of possibility that in the next three to five years it could reach £5bn."
The company is on track to complete the £460m acquisition of Sportingbet's Spanish and Australian operations and is eyeing more growth in the "exciting" US market.
The boom in mobile betting helped fuel a 48 per cent rise in William Hill's pre-tax profits to £277.7m last year.
Its sportsbook app – followed last December by an iPad app – brought in more than 90,000 new customers and online revenues grew over 20 per cent for the third year in a row.
This contrasts with the high street shops where bets were 1 per cent lower than in 2011.
- 1 Moscow voted the world's unfriendliest city
- 2 The excuses your boss is most likely to believe when you call in sick
- 3 I'm pansexual – here are the five biggest misconceptions about my sexuality
- 4 More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
The excuses your boss is most likely to believe when you call in sick
Bono's group has made more money from Facebook investment than from all his music
Three-year-old ultra-Orthodox Jewish children told 'the non-Jews' are 'evil' in worksheet produced by London school
Wikipedia rocked by 'rogue editors' blackmail scam targeting small businesses and celebrities
More than 11,000 Icelanders offer to house Syrian refugees to help European crisis
Climate change: 2015 will be the hottest year on record 'by a mile', experts say
Senior British politicians tell David Cameron: When dead children are being washed up on beaches, it's time to act
Jeremy Corbyn calls Osama bin Laden's killing a 'tragedy' - but was it taken out of context?
If these extraordinarily powerful images of a dead Syrian child washed up on a beach don’t change Europe’s attitude to refugees, what will?
If you're not already angry about the refugee crisis, here's a history lesson to remind you why you really should be
Theresa May says migrants should be banned from entering the UK unless they have jobs lined up
iJobs Money & Business
£14000 - £16000 per annum: Recruitment Genius: This company was established in...
£20000 - £25000 per annum + OTE 40k: SThree: SThree are a global FTSE 250 busi...
£20000 - £25000 per annum + competitive: SThree: SThree are a global FTSE 250 ...
Voluntary and unpaid, reasonable expenses reimbursable: Reach Volunteering: St...