William Hill expand in the US
After becoming the first UK betting company to secure a Nevada gambling licence, William Hill's US branch have just agreed a partnership with a racecourse (Monmouth Park) in New Jersey.
While some might say the company is jumping the gun with their latest manoeuvre, considering the fact that gambling on sporting events is currently illegal in New Jersey, it is anticipated that sports betting will be made legal in the near future.
Plus, after the recent announcement that William Hill Casino's Chief Operating Officer (Jim Mullen) is jumping ship to arch-rivals Ladbrokes, the management of Hills must be pretty relieved by the news that at least their Chief Executive, is planning to stay put – at least for the time being.
At last week's company AGM, the chairman (Gareth Davis) advised shareholders that Ralph Topping has confirmed his desire to continue in his role, as the company's Chief Executive for at least another two years. Mr. Topping has worked for William Hill for more than forty years in various positions and took up his post as Chief Exec, in early 2008.
The news comes less than a month after Britain's biggest bookie announced an 8% rise, in operating profits for the first quarter and a 15% boost in net revenues.