Home Business News William Hill profits down 15 per cent

William Hill profits down 15 per cent

by LLB Reporter
1st Mar 19 10:15 am

William Hill had a challenging year in 2018 to their betting shops in the UK, as the firms shares tumbled.

The bookie adjusted the operating profit which dropped to £233.6m by 15% for the 53 weeks to 1 January, in line with the guidance from the board, and revenue fell to £1.6bn by 2%.

In April this year a new £2 stake limit on fixed odds betting terminals comes into force, the bookie is remodelling their retail division to accommodate the changes.

Philip Bowcock, chief executive said, “2018 was a busy and decisive year for us. Key regulatory decisions in the UK and US gave us much needed clarity to set a new five-year strategy and a goal to double profits by 2023.

“We have three businesses at different stages, with online growing in the UK and diversifying internationally, retail being remodelled in response to the new £2 stake limit, and rapid expansion in the US sports betting market.”

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