The famous UK bookmaker is one of the most successful operators in the online betting sector something that is clearly proven with the recent William Hill QPR deal. Will Hill will have sole operation rights within QPR stadium.
New places will be introduced at Loftus Road (capacity: 18.400) and allow loyal fans to place their wagers. There will be also hospitality areas with William Hill hoping it will increase the fans’ excitement on match day.
Shortly after the deal's announcement, QPR Commercial Director, Euan Inglis stated: "We are delighted to agree a two-year deal with William Hill. The enhanced service that will be provided on match days will not only make it much easier for our fans to have a bet should they wish to do so, but the various ways they can redeem their winnings is far more straightforward thanks to the numerous options available to supporters."
13% Increase in online sports betting
Although Hill has missed out on industry-wide consolidation (in comparison with Paddy Power - Betfair & Ladbrokes – Gala Coral partnerships), they announced an 13% increase in online betting in the UK over the past six months. The achievement is even more important given that there have been no major international football tournament during this period.
Average revenue per customer went up 9% along with gains from new William Hill customers.
This boost in online revenues and a 4% dividend increase helped push the shares up 6%, to 281p, making this the biggest riser in the FTSE 350, even though profits for the six months went down 11% to £109m as the bookmaker had to pay out on a string of wins on well-backed football wagers.
Philip Bowcock, chief executive of William Hill held a key role in this successful change. Last summer, he replaced James Henderson, amidst worries about the firm’s online strategy. Following a string of decisive movements (sponsoring Anthony Joshua v Wladimir Klitschko heavyweight boxing match at Wembley, allowing players to ask the company for odds on Twitter etc) William Hill received a much needed boost towards expansion.