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WILL HILL H.1 DOWN 10 PERCENT
William Hill plc, the UK-listed online and land gambling group, has reported first half earnings down 10 percent, in line with market expectations. Profit prior to finance charges and exceptional items fell to GBP145.1 million (H.1 2007: $287.3 million) in the 26 weeks to July 1. Net profit reached GBP 79.7 million compared to GBP 104.8 million over the same period in 2007.
Pre-tax profit fell to GBP 111.1 million from GBP 134.2 million in the prior-year period, despite half-yearly revenues that grew to GBP 493.1 million from GBP 477.3 million in the corresponding period a year ago.
CEO Ralph Topping told Reuters news service that the company has registered an interest in buying parts of state-owned bookmaker, the Tote (see previous InfoPowa reports). Topping said the group had expressed its interest to Goldman Sachs, the U.S. investment bank appointed by the British government to examine options for the business.
"We met with Goldman Sachs to register an interest as part of the process. If they were going to break up the business to get the best price, we'd be looking for some 'in-fill' outlets - in places where we aren't geographically represented at the moment," Topping said. Topping declined to say how many of the Tote's 540 shops William Hill would be interested in.
Competition laws would preclude William Hill from acquiring the business outright.
Reuters quotes Topping as saying that he believes the Will Hill business is more resilient now to a recession than it was in the early 1990s when bookmakers' profitability came under pressure.
"The business has significantly changed since the 1990s. We've got a wider geographical spread. Back then we were overweighted in London and the South East. Since then our development has been more focused on the provinces.
"We're in a stronger position and we've also diversified our product. Back then, we had a big dependency on two products - horseracing and greyhound racing and very little in the way of sports betting."
Gambling News :
Tim Chung Wins MPNPT Manchester -
The 288-runner £550 MPNPT Manchester Main Event today crowned its champion, awarding the bulk of the £150,000 total prizepool to the nine players surviving after two days of tournament poker at the Grosvenor Casino.
MPNPT Manchester Day 2 -
Day 2 of the £550 MPNPT Manchester Main Event saw 60 Day 1 survivors (from a total of 288 entries) and three intrepid last-minute registrants sit down to play to the final table.
Day 1B MPN Poker Tour Manchester -
Day 1B of the £550 MPNPT Manchester Main Event saw the field rise to 285, as players took full advantage of the whole-day re-entry period.
Day 1A MPNPT Manchester -
The £150,000 guaranteed MPNPT Manchester kicked off today in style – 74 poker players from all over Europe arriving at the Grosvenor Casino to contend the first of two starting days
Kung Fu Rooster Slot Goes Live -
Celebrate Chinese New Year - 2017 Year of the Rooster. It's time to sweep away any ill-fortune and make way for incoming good luck, with this exciting 12 lines slot game.
Sensational Sixes Slot Goes Live -
Light up Icons like BAR's, black spades, red hearts, blue diamonds, and green clubs. The best part of Sensational Sixes are the three wild icons, for 2X, 4X, and 6X multipliers!
3 New Betsoft Slots -
3 new Betsoft slot Games were also added this week to most online casinos allowing US players.
2017 Bodog Super Millions Poker Open -
The first events on the 105-tournament schedule have already been completed; there are three more tourneys on Thursday’s schedule, with a total of $34,000 in guaranteed prize money waiting to be won.
Pokerstars Pulls Out Of Coloumbia -
Pokerstars Has taken the decision to cease offering real money services to players located in, playing from or resident within Colombia, effective from the 17th of July 2017.
The Railbird Launched By Americas Card Room #acra -
Watching your friends conquer the tables just got a whole lot easier. Americas Card Room recently launched its industry-first Player Observer Tool dubbed “The Railbird”, a new feature that allows players seated at Americas Card Room tables to instantly share a live stream of their action with friends.
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