William Hill is one of the world’s leading sports betting and gaming companies
Our 87 years of heritage and strong brand, combined with our growing digital expertise and global presence, create a strong platform from which to grow. With these foundations in place, our ambition is to build a digitally led, internationally diverse gambling company of scale. To do this we focus on three strategic priorities: Customer, Team, Execution. This approach is enabling us to win with the customer, build digital capability across our teams and execute on our commitments by leveraging our global platform, find operational efficiencies and deliver sustainable and profitable revenue growth.
Today, only 20%1 of total worldwide gambling happens online. However, the continued migration by customers from retail to online and mobile channels is unmistakable, accelerated by the physical restrictions implemented in response to the Covid-19 pandemic. Therefore, operators must adapt their retail and online offerings to succeed. This is a significant opportunity. Through continuous investment in our modular digital platform the competitiveness of our offering will ensure we participate in the growth of digital gaming and sports betting.
We are diversifying our global reach through organic and inorganic growth. We anticipate the US, where we have access to 26 states and operate more than 170 venues in 15 states2, will be the largest sports betting market in the world. Following the overturn of PASPA, estimates forecast the market will grow rapidly with addressable market size forecasts ranging up to US$30bn to US$35bn3. We have continued to expand our Online offering into high-growth global geographies, entering the rapidly regulating Latin American market, acquiring a majority stake in Colombian operator, Alfabet S.A.S., which operates the brand BetAlfa.co.. Since the end of the financial reporting period, we secured a new licence in the Argentinean province of Buenos Aires..
Our investment case is underpinned by our commitment to player safety. In the UK we are actively involved in the Betting and Gaming Council and are working with others to lead the development of the Safer Gambling Commitments.
Betting and gaming are intrinsically cash-generative activities. William Hill delivers strong operating cash flow. When combined with our disciplined approach to investment, we have maintained a healthy balance sheet and a long-term track record of dividend payment while continuing to grow the business.
1. Source: H2GC - Global gambling gross win data, January 2021.
2. As at 29 December, 14 states were live. At the time of publication on 4 March 2021, 15 states were live with the addition of Virginia in February.
3. Caesars Entertainment, Inc. scheme document https://investor.caesars.com/static-files/69f966f5-ff04-4dcb-a87f-971ab920a09d