It has been announced today that William Hill has praised the diversification of its geographical footprint during the Covid-19 pandemic as the firm reports a drop in revenue compared with the previous year.
According to reports, revenue has dropped more than fifteen percent compared with the same period in the previous year, before the full pandemic hit its peak globally.
Pre tax profit for the twelve months was negatively impacted and is being attributed to the disruptions to business operations caused by the deadly virus.
Last year, businesses in the gaming, hospitality and betting industries were forced to shut their doors to the public as a way of preventing the virus from spreading. Many of these businesses were owned and operated by the bookmaker and sports betting giant.
Although online operations were still able to continue, William Hill’s land based operations and high street sports-books were shuttered and over the course of the year were only able to trade for a few months. The closures, combined with the cancellation of the majority of sporting events around the world meant that the company experienced a decline in revenue by as much as thirty-percent.
Despite the major disruptions to land-based operations, William Hill was able to offset some of the disruptions to its digital products and online operations reported positive growth of more than fifteen-percent overall, with revenue reaching more than $1 billion.
Furthermore, the company was also able to see positive operations across a number of digital products in regulated markets around the world, including Colombia, Argentina and Latin America.
Reportedly, despite the downturn in revenue, the executive team at the firm have praised the latest public figures and reports and stated that the company started last year strong and finished even stronger with a heavy focus on its strategy for customers, staff and execution.
These latest figures show that even the biggest of corporations are not immune from the recent Covid pandemic and that measures around the world can bring many challenges.
In light of this, gaming companies are adapting to the changes and adjusting the way they conduct their business operations.
William Hill has been praised as showing resilience in times of crisis and that its broad range of products in digital channels, including online casino, poker, bingo and online betting, has contributed to the bookmaker riding the storm with, hopefully, the worst of the crisis behind us.
William Hill currently provides one of the most targeted selections of online casino games in the online industry, with games from software providers such as Red Tiger, NetEnt, Inspired and Blueprint Gaming.
Chief executive officer of William Hill Ulrik Bengtsson commented on the news and latest figures:
We began the year well and finished the year even stronger, highlighting the traction generated by our strategic focus on customer, team, execution.
In what was an extraordinary year I am immensely proud of how the group has responded and the resilience we have seen in our performance. We prioritised the protection and safety of both our colleagues and our customers, and our employees went above and beyond for which I thank them.
In 2020 we put our strategic plans firmly into action, diversifying our geographical footprint, expanding our team’s capabilities and rebuilding our technology.
We are embedding proprietary components across the platform architecture and are delivering a constant flow of new features including faster product experience, improved navigation and greater protection to our customers around the world.