William Hill Losing Market Share in Australia

Written by :

Guest

Published on :

8 June, 2016

"The growth in Sportsbet, Ladbrokes and CrownBet over the last three years has intensified competition in the Australian online sportsbetting market, driving William Hill's market share from 34% to just 12% (of the digital market), and net revenue flat in 2015 versus 2013 despite the market growing at around 15% per year," said UBS analyst Chris Stevens in a statement issued Wednesday.

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UBS left its target price 290p unchanged.

William Hill says it expected operating profit for this year to fall between £260m and £280m, from £291m last year.

Much of this poor showing is related to unfavorable results at this year’s Cheltenham and football results going the way of punters.

William Hill shares dipped 0.06% to 305.23p at 1049 BST.

- Aaron Goldstein, Gambling911.com

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