The year behind us was quite eventful for our favourite casinos. Some thrived in their business operations, some struggled to overcome challenges. However, what they all have in common is faith in the new year and business opportunities. One such casino is William Hill, which recently announced hopeful predictions for adjusted operating profit for 2019.
Adjusted operating profit is the profit garnered through operations before tax and interest. In January 2019, Bloomberg predicted the figure for William Hill to be around £130m, but William Hill disagrees. The casino expects the figure to be much higher once the financial report for Q4 arrives.
The explanation for this confidence lies in the very successful sports betting vertical. A strong sports gross win margin undoubtedly influenced the final revenue report for the previous year. According to William Hill, gaming revenue experienced certain setbacks, but sports betting performed brilliantly.
When it comes to online gambling, the situation is described as complex. William Hill announced that the results in the online international market for the final quarter are mixed. Net revenue will likely be flat on a pro forma basis, and that includes sportsbook net revenue. However, the acquisition of Mr Green casino last year positively influenced William Hill’s operations as well.
In the USA, gaming profits continued to maintain steady success. As two potential driving forces, William Hill lists wagering growth and disciplined investment. The success in the US states spurred the brand to say the division might break even for 2019 beating a guidance of between $0m and a $20m loss.
The full financial report for the final quarter and the entire year is expected to be released somewhere in February.