William Hill, a leading betting and gaming corporation is looking for a strong 2016, “following a year of re-adjustments to new market conditions and tax headwinds imposed on UK betting operators,” according to a statement from the corporation this week.
In 2015 its profits dropped 22 percent to £290 million, which had been expected due to paying £87 million in UK gambling duties. Despite that the company had a strong closing quarter, with revenues from the UK, Spain and Italy up 14 percent.
It also noted improved player activity for the last quarter in Australia, which the company seeks to turn into a core market.
The company plans to launch a new “in-house” betting platform called Trafalgar.
CEO James Henderson said, “I am pleased that we have delivered results in line with the market’s operating profit expectations for 2015. Online has seen some disruption around the implementation of Project Trafalgar but we are rapidly addressing that. I am optimistic the advantages that Trafalgar gives us will drive growth, particularly as we gain flexibility and increase our ability to differentiate. Retail has delivered another resilient performance, our US business continues to grow strongly and I am encouraged by the performance of the William Hill brand as the growth engine of the Australian business.”
Henderson said the company would continue to emphasize technology as a “key pillar”
Henderson said “and continue to ensure technology is a major competitive advantage for William Hill. This will allow us to further build on our brand and scale, and be best placed to compete.”
