William Hill Limited, one of the world’s leading betting and gaming companies, reported mixed financial performance in 2022. The company’s total revenue decreased by 6.2% year-on-year to £1.4 billion, while operating profit decreased by 17.8% to £233 million.

The decrease in revenue was mainly due to the closure of betting shops in the UK and Ireland due to the pandemic, as well as the impact of the UK government’s decision to reduce the maximum stake on fixed-odds betting terminals (FOBTs). The company’s online business, however, saw a 4.9% increase in revenue, driven by strong growth in sports betting and gaming.

Despite the overall decrease in revenue, William Hill Limited reported a rebound in betting shop profits and foreign exchange gains. Betting shop profits increased by 3.7% to £543 million, while foreign exchange gains rose by 11.2% to £81 million. The company also reported a 4.3% increase in digital net gaming revenue, driven by strong growth in sports betting and gaming.

The company’s CEO, Ulrik Bengtsson, commented on the financial performance: “We are pleased with the progress we have made in 2022 despite the challenging environment. Our betting shop business has seen a rebound in profits and our digital business has continued to grow strongly. We are confident that our strategy of diversifying our product offering and expanding our presence in international markets will continue to drive our growth in the future.”

Overall, William Hill Limited reported mixed financial performance in 2022, supported by a rebound in betting shop profits and foreign exchange gains. The company’s digital business also saw strong growth, which is expected to continue in the future. Despite the challenging environment, William Hill Limited remains confident that its strategy of diversifying its product offering and expanding its presence in international markets will continue to drive its growth in the years ahead.