William Hill In Australia Losing Market Share

Contributing factor in Hill's declining digital fortunes

A June 2016 presentation to William Hill group executives by the chief exec of the group's Australian operations, Tom Waterhouse, provided the Sydney Morning Herald with material for an article Monday which noted that the Australian operation's mainly digital market share has dropped from 17 percent to 12 percent.
Waterhouse flagged the decline, noting that the company was third in the market behind Tabcorp and Sportsbet (a Paddy Power subsidiary) and that the situation was unlikely to change.
He also pointed out that there has been a rise in Australian taxation and regulation which had the potential to further impact revenues and earnings, particularly the growing pressure to halt in-play betting and the possible extension to other provinces of South Australia's "point of consumption" tax changes.
Admitting that government regulation was getting a lot tougher, with a consequent rise in the cost of doing business, Waterhouse told his colleagues:
"In terms of racing and sports fees, we're seeing a continued upward trend. Australian sports codes have put in turnover tax or gross win tax or a mixture of both."
However, Waterhouse appeared to remain upbeat on overall prospects in Australia, opining:
"In my view, only the biggest will survive, and the competition will get less and less over time, though it's very competitive right now."
The newspaper notes that in H1-2016 William Hill's Australian operations posted a 10 percent decline in revenue, leading to a 62 percent drop in earnings.
http://www.smh.com.au/business/tom-waterhouse-admits-his-sports-betting-brand-was-highly-polarising-20160812-gqrbmx.html

Online Casino News Courtesy of Infopowa

About the Author... Total Posts Written: 9,449
Casinomeister

Casinomeister

The man with the plan here at Casinomeister. Bryan Bailey has been running Casinomeister since its launch in June of 1998. He has watched the industry grow from its primeval stage to what it is now. The Meister has attended nearly 100 conferences in the past 20 years and has either been a speaker or a panel moderator for at least 60 events. He has always been an advocate of fairness and reason and is known to like German beer, a good Scotch, and astrophography.
bryan@casinomeister.com

See More Posts