William Hill and Rank Group both report good results

In the general casino news last week was the report from online casino operator William Hill that profits increased once more on sales exceeding £1 billion for the first time. As has been reported in previous casino news financial results from other bookmakers, what is known as “over the counter” sales or revenues from bookmakers shops has reduced but new gambling machines that have been installed in the high street shops have helped to mitigate other losses. It should be noted for the gambler that machines in bookmakers shops generally have a lower payout percentage so if you want to play machines, the online casino versions are better. The casino news also points out the rise in popularity of online betting which we have seen from other online operators with William Hill reporting a rise in that business of no less than 24% which accounts for the statement from CEO Ralph Topping when he said “Our continuing investment in technology has underpinned growth”. William Hill was not the only gambling company in the general casino news last week as Rank Group also reported a 14% rise in profits from their Mecca Bingo halls and the Grosvenor casinos arm with the casinos performing the better of the two. With all the talk of a recession and poor economy it is still surprising that results like this can be achieved but then maybe the gambling public is not suffering as badly as some would have us believe; maybe the next quarter results reporting season will throw a different light on the subject..