CEO Focuses on the Internet and Announces a New Online Sports Betting Platform

William Hill plc, one of Britain's largest gambling groups, has ambitious plans to raise its Internet sportsbetting gross win by 50 percent with the introduction of a new software platform in November 2008.

At this time already, 20 percent of Hill's gross win comes from Internet activity, but CEO Ralph Topping told Reuters reporters this week that he aims to increase this to 25-30 percent as soon as the new platform, designed by UK software provider Orbis, is launched during the last week of November. “That kind of growth is there for us to aim for but we'll set formal targets early next year,” said Topping.

The online sportsbook business of William Hill has struggled over the last year from intensifying competition and serious technology problems. The company attempted to implement a major upgrade of its internet betting operations in-house but was forced to scrap the project last year, writing down £22 million.

The firm has successfully halted the decline in its sportsbook operations and is now achieving double digit percentage growth, thanks partly to the introduction of 30 new games, backed by a fresh advertising campaign, Topping said.

Topping, who was previously the company's Internet director but took up the position of chief executive in February, was at pains to emphasize his commitment to expanding the online business, which he feels was neglected in the past. “We have a new sense of direction. For too long, we regarded ourselves as bookmakers with a bolt-on activity called gaming. There will be consolidation within the industry. It is inevitable as companies like 888 are only 10 or 12 years old. If William Hill is involved, it will be within the criteria that we won't pay foolish prices for and there has to be a good return for investors,” Topping said.

“There is a substantial opportunity for growth on the Internet and that part of that opportunity could be realized through acquisitions,” said Topping. “The online gaming industry is regarded as fragmented by analysts and its immaturity makes it ripe for consolidation.”

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