London | UK bookmaker William Hill may overhaul its flagging Australian digital operations after chief executive James Henderson was dumped after only two years for failing to secure a bigger share of the fast-growing online wagering market. 
William Hill's board said on Thursday that Mr Henderson would step down "with immediate effect" after more than 30 years at the company, with chief financial officer Philip Bowcock made interim CEO while the search for a permanent boss was conducted.
Mr Henderson's departure underlines the many challenges facing wagering companies, including higher taxes and tighter regulation. A series of mergers among its British rivals has also intensified the competition for William Hill - which acquired the Australian brands Sportingbet, Centrebet and Tom Waterhouse in 2013 - as gambling companies increasingly market themselves to younger sports fans betting via mobile apps.
William Hill shares plunged more than 12 per cent in   March after the company issued a profit warning due to the poor performance of its online division.
"There remain significant challenges and in the recent past online has not performed in line with our high expectations as a company at the forefront of the market," William Hill chairman Gareth Davis said.
William Hill has presented its Australian operations as a bright spot in recent earnings announcements. "Trading in Australia continues to be encouraging," the company said in   May. "Wagering within the William Hill brand was up 22 per cent, reflecting the refocusing of the business on the core digital customer base and the William Hill brand."
However, UBS analyst Chris Stevens last month argued the company has lost ground to its competitors.
"The growth in Sportsbet, Ladbrokes and CrownBet over the last three years has intensified competition in the Australian online sports betting market, driving William Hill's market share from 34 per cent to just 12 per cent [of the digital market], and net revenue flat in 2015 versus 2013, despite the market growing at around 15 per cent per year," Mr Stevens told clients.
WITH REUTERS