William Hill Profit Boosted By Online Bets

William Hill reported Wednesday that operating profits are set to be at the top end of forecasts.  Strong growth occurred during the first three months of 2010 thanks mostly to a surge in online betting activity.  Online revenue grew by a quarter compared to the same period in 2009.

The bookmaker said full-year operating profits would be about £275m, up from £258.6m in 2009.

"This is strong performance and I am delighted that, in particular, our online business and the gaming machines in our shops continue to see encouraging revenue growth during [the period]," said the group's chief executive Ralph Topping.

Shares in William Hill rose nearly 8 percent following the announcement.

- Aaron Goldstein, Gambling911.com