Britain’s second largest bookmaker halts decline and announces plans to launch new Orbis platform in November.
Wednesday 18th June 2008
Britain’s second biggest bookmaker, William Hill, expects to increase the proportion of its gross win coming from online gambling by up to 50 percent after the launch of a new online sportsbetting platform in November.
The firm now derives about 20 percent of its gross win from e-commerce according to Ralph Topping, Chief Executive Officer for William Hill, but aims to increase this to between 25 to 30 percent when a new platform designed by Orbis is launched on November 27.
'That kind of growth is there for us to aim for but we'll set formal targets early next year,' Topping told Reuters.
The news service reported that William Hill's online sportsbook has been struggling over the past year due to intensifying competition and technology problems. It attempted to implement a major upgrade to its Internet betting operations in-house but was forced to scrap the project and write-off over $42 million. It then turned to Orbis, which already serves clients including Ladbrokes and Paddy Power.
Topping revealed that William Hill has halted the decline in the success of its sportsbook and is now achieving double-digit percentage growth thanks to the introduction of 30 new games with a new advertising campaign.
'There is a new sense of direction,” said Topping.
“For too long, we regarded ourselves as bookmakers with a bolt-on activity called gaming. There is a substantial opportunity for growth on the Internet.'
Topping also indicated that William Hill is looking to acquisitions in order to increase revenues.
'There will be consolidation within the industry,” said Topping.
“It is inevitable as companies like 888 are only ten or twelve years old. If William Hill is involved it will be within the criteria that we won't pay foolish prices and there has to be a good return for investors.”
