William Hill confident over 2007 prospects

2007-01-12 16:06:40

UK bookmaker William Hill has revealed that its 2006 profits should be in line with expectations and has predicted that things will continue to improve in 2007.

The company added that further ventures into continental Europe would serve it well over the coming year, on the back of estimated profits of almost £300 million for 2006.

William Hill recently secured a renewal of its three year contract with CryptoLogic, boosting expectations ahead of the new year.

In reaction to the predictions, the William Hill share price rose by 22p, with the company now valued at £2.2 billion. Recent tie-ups with other online companies seem set to boost the bookmaker's profile further.

"The board is optimistic that the group will see further progress internationally, with the recent awards to our joint venture with Codere of 55 retail and two remote licences in Italy," the company said in a statement.

"In addition, the group and Codere are planning to apply for a sports betting licence in the region of Madrid which has recently issued regulations to allow sports betting," it added.


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