British bookmaker William Hill today posted slightly higher revenue in the fourth months since its first-half results, benefiting from higher online gambling demand and its aggressive expansion in the US.
The company is focusing on its online business in light of new UK rules, which cut the maximum stake allowed to £2 from £100 on high-speed slot machines.
William Hill has also closed about 700 shops and is stepping up its push in the US.
In mapping out its online future, the company promoted its digital boss Ulrik Bengtsson to the chief executive role in September.
The company said its online net revenue rose 26% for the 17 weeks ended October 29, with a 60% jump in net revenue from the US.
Retail like-for-like net revenue fell 16% in the period.
William Hill also today reiterated its full-year expectations. It said in August it expects full-year adjusted operating profit to be in the middle of a range of £50-70m.
Already operating in nine US states and running a mobile betting app, William Hill today separately announced the purchase of sports book assets of CG Technology, including its Nevada and Bahamas operations.
Earlier this month, a cross-party group of US lawmakers called for a raft of measures to overhaul online casinos including banning the use of credit cards and limiting maximum stakes in online gambling.
UK and Irish betting companies have been pivoting to the US after the US Supreme Court overturned a federal ban on sports betting.
Some companies are even taking big bets with deals of their own, with Flutter Entertainment, formerly known as Paddy Power Betfair, set to combine with Poker Stars owner Stars Group.
