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William Hill reports fall in profit

Christian Fernsby ▼ | February 26, 2020
William Hill today reported a fall in annual profits but at the top end of expectations as it continued to deal with the fallout from a UK government limit on slot machine stakes.
William Hill
William Hill   Adjusted operating profit from existing operations fell 37% to £147m
Adjusted operating profit from existing operations fell 37% to £147m after the government imposed a £2 stake limit on the machines. Last month William Hill forecast profits of £143m to £148m.

Topics: William Hill

On a statutory basis, the bookmaker made a pre tax loss of £37.6m after charges of £134.1m as it closed more than 700 shops and fired staff after the stake limit took effect.

It also warned of a £5m to £10m hit to adjusted operating profit ahead of a ban in the UK on the use of credit cards for betting which comes into force on April 14.

“We move into 2020 in a stronger position,” said chief executive Ulrik Bengtsson, adding that almost a quarter of the company's revenue was now generated outside the UK compared to 15% in 2018.


 

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