Hilton Group announced that profits dipped 4% in the first four months of the year as the company\’s betting business suffered from unfavorable horse-racing results, especially at major meetings such as Cheltenham and the Grand National.
The company expects an improving margin and a good growth in the second hald of 2005.
The gross win at its betting shops dropped 1 per cent, while the telephone betting contribution to group gross win fell 8% over the first four months of the year. By contrast, the online division reported a 23% increase in gross win.
Commenting on William Hill\’s purchase of Stanley Leisure\’s betting shops, Ladbrokes Chief Executive David Michels said: “I don\’t think there\’s a single customer who will notice that William Hill has more outlets. I still believe we are, and will remain, number one by profit. We are certainly still number one by profit per shop.”
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