Boylesports and William Hill have announced plans for expanding their online sportsbook operations. Both sites are planning for an overseas expansion but, Boylesports is also looking to introduce new products to increase its footing in the online gambling market.
William Hill Reports Increase in Sales by 6%
William Hill has reported an increase of 6% in sales amounting to almost 1.15 billion pounds in December last year. Although the operating expenses have increased from over 650 million pounds to almost 760 million, the company’s net revenue has also increased by 13%.
According to Ralph Topping, CEO, the company is looking to expand its mobile and online gambling operations in regulated territories. The company is focusing on expanding its online business which will be more profitable than its local retail outlets. The net revenue from online gambling increased by 28% amounting to over 320 million pounds as the operating profit shot up to almost 20% making over 100 million pounds.
Overseas Expansion for William Hill
Topping has stated that the company is planning overseas expansion through multiple channels such as online and mobile gambling. As governments are relaxing or introducing the regulations for gambling, William Hill is viewing it as a good opportunity to offer its products to new markets.
The company has submitted its gaming license to the Nevada Gaming Commission and is waiting for its approval. Although the company’s expansion in theUSwill rely heavily on the government’s decision to legalize online gambling, it has already started the framework process.
Online gambling expansion is more profitable than the land-based sector as the operation costs are lesser. The past year has seen a good performance by the online gambling business.
Topping has said that one of the main risks for this year is the affect of the UK and overseas taxation as it may increase tax on gaming machines by the end of this month. The CEO of William Hill, along with other online gambling companies, is awaiting the decision of George Osborne,UK’s Chancellor of the Exchequer.
Boylesports Creates Online Gambling Division
Ireland’s leading bookmaker operates over 170 retail sectors in the country. Its betting site Boylesports.com, provides sports betting and other gambling opportunities.
The expansion plan of Boylesports includes a major restructuring of the organization which will result in separating its online gambling and sports betting operations. The company has created a new sector for online gambling called Boylesports Online. The chief executive will be Keith O’Loughlin, the current head of online operations at Boylesports.
According to John Boyle, CEO and founder, this is the best time to restructure the organization. The expansion and reorganization will allow Boylesports to globally extend its reach to a wider audience through its new online sector. The group will continue under Boyle’s leadership.
Significant investments will have to be made in the new sector which Boyle believes will give profitable returns. Boyle has stated that although their loyal customers at the shops inIrelandare important, they also have to think about potential customers that are restricted by their location. Boylesports will be able to cater to their needs with this decision.
Online Sector’s CEO to Focus on Latest Online Platforms and Build on Existing Brand Equity
The new chief executive of Boylesports Online will have several key agendas to kick start the latest sector. O’Loughlin’s main focus is to launch the online sector on new digital platforms such as mobile gaming. Designing and releasing new products will be another key task in the expansion process.
Loughlin wants to establish a foothold inAsia’s online gaming market which will be the ideal location for growth and profit. As the entire brand – including Boyle Poker and Boyle Casino – enjoys great brand equity, Loughlin hopes to build on this and take the online sector to a new level.
