William Hill gets World Cup boost

http://news.bbc.co.uk/go/rss/-/1/hi/business/6418489.stm

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UK bookmaker William Hill has seen annual profits jump 35% in 2006 thanks to strong betting during the World Cup.

The firm said pre-tax profits climbed to £235.5m in 2006, up from £174.6m a year earlier.

Punters also won more during the World Cup and gross wins rose by 15% for 2006 to £931.3 from 807.7m the year before.

While the bookmaker welcomed the creation of the Gambling Commission, it raised concerns about a lack of time given to meet new regulations.

"We are concerned insufficient time is being given to the industry to enable full compliance with these technical standards from the beginning of September," said the firm.

The firm also said it was looking forward to the "proposed deregulation" of the betting industry that will be brought in by the Gambling Act from 1 September.

This will include longer betting-shop opening hours, and gaming machines with higher pay-outs.

William Hill said its results were also boosted by its purchase of Stanley Retail, which was completed in March 2006.