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The bookies' spectacular Grand National payday when 100-1 outsider Mon Mome won the biggest betting bonanza of the year, only served to claw back the big losses suffered at Cheltenham, William Hill claimed today.
Britain's second-biggest bookie said revenues since the start of the year in its betting shops have fallen 5% and on the telephones by 31%.
The layers were taken to the cleaners by the heavily backed wins of Kauto Star in the Gold Cup and Master Minded in the Champion Chase at the Cheltenham Festival in March.
Hills said revenues were also down because of the amount of jump racing cancelled during the snows of one of the roughest winters in years.
However, the firm reported total group revenues up 6.5% with William Hill Online seeing a 50% leap in revenues from its expanded business. On an underlying basis the company's revenues online were up 10%.
"Although the economic and competitive environment remains challenging, our results show continuing resilience," said chief executive Ralph Topping.
