After lengthy discussions regarding the future partnership between William Hill and Scientific Games, it’s been confirmed that the two betting operators are extending their agreement by four years. This means William Hill will continue to support the Scientific Games lineup until 2024, with their sports betting technologies being the focus of that support. These two corporations have maintained a long-standing partnership that began in 2007.
There have been new terms listed with the updated agreement, which notes that William Hill will employ the “Open Sports” platform from Scientific Games on a modular basis. It’ll provide the sportsbook greater flexibility and speed when deploying new products under their proprietary development team. Considering that William Hill operates in multiple countries across Europe, it’s not surprising that they’d want to enhance their exclusive options.
Both the chief executive officers of Scientific Games and William Hill spoke to reporters after the confirmation of this extended agreement. Jordan Levin from Scientific Games noted that they’ve built one of the most robust relationships in the sports betting community, that both SG Digital and William Hill shame similar ambitions towards the development of player experiences.
When it applies to the chief executive with William Hill, he expressed that it’s become a pivotal time for the sports betting market and that the legal status behind SG Digital provides William Hill with increased flexibility. Ulrik Bengtsson noted to reporters that having flexibility with their products is part of their player accusation strategy in the European Union. Changing over to the modular components of Open Source will assist William Hill is accomplishing that strategy.
Betsson See’s 10% Decline in Yearly Revenue
While there have been operators benefiting from the online gambling industry, there have been others that have failed. This extended to Betsson, who saw their revenue deplete by 10% over a yearly basis. The announcement that they’d earned $134 million or SEK 1.26 billion, throughout the fourth quarter pertained to the casino, with an additional 9% being lost through the sportsbook.
Betsson obtained revenue listed at SEK 1.29 billion for the fourth quarter, which is a decrease of 10% the yearly scale. The entire revenue stream throughout the 2019 fiscal year equated to SEK 5.16 Billion, which was down by 5% from 2018. When looking at their operating income, this fell by 38% to SEK 865 Million. Net income also saw declines listed at 27% for SEK 781 Million, which extended to the operating cash flow at a 10% decrease for SEK 1.15 Billion. Betsson believes that these steep declines followed with the increased regulation in Sweden and Norway.