Big 3rd quarters for William Hill and Playtech

Both William Hill and Playtech reported their respective Q3 results yesterday. Both impressed.

Shares in Playtech Plc jumped 7% on results which saw substantial increase in revenue compared with the same period last year.

Total revenue for the three months to 30 September 2014 was €116.5 million, up  28% on last years €90.6 million. Casino revenues were up 33% year on year, while sports betting revenues were up a massive 109%, enjoying a big leg-up from the World Cup.

On the back of the better than expected result, the company said it was confident that it would exceed the market’s current full year earnings expectations. These are no doubt being re-calibrated as we speak.

CEO Mor Weizer described the result as,

“the strongest-ever quarterly performance, driven by our flagship casino, including mobile and Live, sport betting, land-based revenue and services”

William Hill’s results were a case of see-you & raise-you, with big increases across the board also.

Online revenues (now 33% of total revenue) jumped 55%, sport betting revenues were double the same period last year (again…World Cup effect) and online profits were up a staggering 126%. Happy days for new CEO James Henderson, before things get decidedly tougher in months ahead with a new 15% point of consumption tax to contend with from December 1.

The World Cup hasn’t been kind to all operators. Bwin.Party’s Q3 revenues were a disappointing 2% up on last year. This comes on the back of a first half that was down 7.5%.

Paddy Power also copped a bit of a World Cup wallopping, due in part to overly generous bonus offerings. That’s what we like to see!