William Hill PLC has announced a trading statement for the unaudited 52 weeks ended December 29.
The Group’s total net revenue for the fourth quarter grew 9% year-on-year. Sportsbook staking increased 16%, driven by enhanced products and geographical expansion, whilst gross win margins benefitted from favourable sporting results, driving Group sportsbook net revenue up 20% year-on-year.
Due to the impact of the pandemic on live sport, in addition to the numerous retail shutdowns enacted throughout the year, total Group net revenue for the year decreased by 16% to £1,324m.
Ulrik Bengtsson, CEO of William Hill, commented: “2020 was a year like no other. It tested our agility and flexibility and we delivered, keeping our customers and team safe, whilst materially improving our competitive position through product enhancements and geographical expansion. The offer received for the Group recognises the substantial progress we have made as well as the opportunities and challenges ahead of us. I remain immensely proud of the William Hill team which has been relentless in its focus on delivering a great product and service to our customers, with player safety at its heart. Customer, Team, Execution have been our guiding lights through this unusual year, and they will remain so as we look forward through 2021.”
The Group’s 2020 final results will be announced on February 24.