In a trading update to investors, William Hill, parent of William Hill US, has cited strong progress towards break even status in the American sports betting sector, with expected adjusted profits for 2019 of between $185.6m and $192m for the whole group.
The US business, said the firm, continued to generate strong growth during the fourth quarter, driven by wagering growth and disciplined investment. “We now expect to be break even for the US business overall in 2019, compared to the guided range of $0m to -$20m,” it noted.
During the year the group said it had made good progress towards delivering its long term ambition to become a digitally led and internationally diversified business of scale while continuing to embed a culture of responsible gambling.
Ulrik Bengtsson, CEO, commented: “The group has delivered a strong operating performance, ahead of our expectations and against a challenging regulatory backdrop. We made good progress on a number of fronts, including our retail business, online and in the US, enabling us to deliver on our long term strategic ambitions. We look forward to building on these efforts in 2020 with a strong focus on customer, team and execution.”
During 2019, William Hill US made a string of high profile announcements, including becoming the first arena sportsbook operator in a deal with Monumental Sports & Entertainment. The firm also became an official NBA partner and struck its first tribal sports betting agreement in New Mexico with the Mescalero Apache Tribe.
The group’s 2019 final results will be announced on February 26, 2020.