William Hill chief defends Sportingbet buy

William Hill will inject its Australian Sportingbet unit with funds to improve its website and improve marketing, chief executive Ralph Topping said as the British company reported disappointing results since the £459 million ($704.9 million) acquisition in March of the business. In the 15 weeks after the purchase, Sportingbet generated an operating profit of £3.7 million on £30.8 million in revenues. “The business was being run for cash and lacking investment and we are addressing that,”  Topping said. “You never buy a perfect business.”