Markets at odds with William Hill after update

FTSE 250 bookmaker William Hill (LON:WMH) has seen its share price drop by 2.17% to 135.30p (as of 12:55 BST) as group net revenues grew modestly during the first 17 weeks of 2019. Online performance was higher than elsewhere in the group following the acquisition of Mr. Green, but also faced challenges from the impact of enhanced customer due diligence measures. Operations in the US have grown rapidly, with a 48% rise in revenues in the seven states that have legislated for and regulated sports betting.

CEO Phillip Bowcock said: “Online continues to show good momentum as we focus on growing our mass market customer base, while Retail has begun to adapt to the new £2 machine gaming stake limit. Just one year on since PASPA was overturned William Hill has doubled the sports wagering it handles in the US, seen record performances at the Super Bowl and March Madness, is live in all seven states to have allowed sports betting and expects to enter further states soon, with Indiana and Iowa the most recent states to pass bills to legalise sports betting“.