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A Down-Swing in Business

William Hill has announced the company’s performance in the land and online casino betting and gambling industries – and the results certainly reflect the slowdown in industries in the past several months. Will Hill is a giant in the land betting industry with bookie shops all over the UK and a growing foothold in the internet gambling industry. Will Hill is actually releasing a new online betting site in the coming weeks that will further solidify the company’s presence in the internet casino and gambling industries.

As for the immediate news, Will Hill’s half-year results indicate that profit has taken a hit with the slowing UK economy and earnings and profits are down ten percent compared to the previous half-year results. And while this is certainly not the most positive earnings report issued from Will Hill, the company and online casino gambling analysts anticipated the decline in land and internet gambling revenues for the beginning to 2008. (As a side note though, some online casinos did turn a profit this half-year despite the economic troubles.)

On another side of the situation though, Will Hill is launching the company’s highly anticipated sportsbetting site later this fall and avid bettors are eagerly awaiting the much-touted software and gambling site. The new Will Hill site is the company’s really first strong attempt to pull some of the business from the online casinos into the company’s offerings. The new CEO, Ralph Topping, sees the internet gambling market as the key next step for Will Hill’s planned internet businesses. The betting site is powered by Orbis OpenBet and there is as-yet no firm launch date.