Australian Gambling – Australia is helping fly the flag for one of the world’s biggest bookmakers; the UK-based company’s group chief executive James Henderson plugging its operations Down Under as a contributor to its strong quarterly result.
Henderson said the progress made by William Hill Australia, which runs our recommended online bookmakers Sportingbet.com.au, Centrebet.com and the recently acquired Tomwaterhouse.com, was delivering “strong profit growth”.
But he cautioned that jumps in fees charged by state racing operators across the country had led to a reduction in the amounts wagered.
“Our work to optimise the customer base, following the onset of increased race field fees, has improved the gross win margin, with slightly reduced amounts wagered, as expected,” Henderson said.
“More importantly, we are well positioned to compete during the busy Spring Carnival period.”
SMH reports the amounts wagered in Australia with the company fell three per cent in the 13 weeks ending at September 30, but the number of wagers had risen by one per cent.
The drop in the value of bets comes despite a one per cent rise in the volume of wagers, the company said in an interim management statement.
William Hill Australia accounts for seven per cent of the company’s revenue.