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William Hill Full Year Report
WILLIAM HILL OPERATING PROFITS DOWN GBP 30 MILLION IN LATEST FULL YEAR REPORT
Unfavorable football and horse racing results mar the balance sheet.
In a trading update Monday, online and land gambling group William Hill plc reported that its FY 2016 operating profit was down GBP 30 million year-on-year following unfavorable results in football and horse racing.
The company said its full-year operating profit for 2016 would be around GBP 260 million, at the bottom end of its guided GBP 260 million to GBP 280 million range, marking a decline of over GBP 30 million from the GBP 291.4 million operating profit posted in 2015.
The update notes the failed multi-billion-pound merger negotiation with Canadian online poker giant Amaya in October.
The company issued a profit warning in March this year, less than a week after the end of the Cheltenham Festival, the centerpiece of the horseracing calendar. In November, it said it expected operating profit to be at the higher end of its guidance range, said gross win margins were below expectations.
Whilst imparting some bad news, the trading statement Monday, reported that underlying trends “remain encouraging” but said gross win margins for the end of the year were below expectations as football and horseracing results went against bookmakers.
“Importantly, the improvements we saw in wagering online and Australia in the second half have continued in recent weeks,” said Philip Bowcock, interim CEO. “However, all four divisions saw customer-friendly results at the back end of the year, which translated into profits being GBP 20 million below our prior expectations.
“With key underlying trends continuing to be positive, the recent run of sporting results have not changed our confidence in a better performance in 2017.”
The company will announce its full final results for 2016 on February 24.
Gambling News :
NHL Odds: Toronto Maple Leafs vs. Washington Capitals on Tuesday -
Auston Matthews and the Toronto Maple Leafs touch down in DC this Tuesday (7 PM ET on TSN) as one of the hottest teams in the NHL. They've tallied a ridiculous 26 goals through only five games played; that's more than five goals scored per game on average. They'll be up against an equally potent Washington Capitals team.
Pro League Reveals Sportradar Contract Details -
The partnership between the PLC and Sportradar aims to provide a high-quality level of service to all Arabian Gulf League stakeholders in addition to making verified official data about players performances available to coaching and scouting staff and supplying match information to media outlets.
NFL Odds: Steelers Visit Undefeated Chiefs #TNF -
The Kansas City Chiefs (5-0 SU and ATS) have been flawless as an NFL pick thus far. Their chances of remaining undefeated in Week 6 look good; after opening at –4.5, Kansas City is a 5-point home chalk for Sunday’s game against the Pittsburgh Steelers (3-2 SU, 2-3 ATS), beginning at 4:25 PM ET on CBS.
Mega Moolah strikes again -
The jackpot was hit on a mobile device on Sunday 1 October 2017 by a UK player on Betway, this time awarding a £1,448,116.31 pay day.
2 New Slots For Microgaming Casinos -
David Reynolds, Games Publisher at Microgaming, comments: “On top of our branded title game Halloween, we’re delivering two more slots this October, each bringing exciting features and a different theme.
MLS Odds: Red Bulls vs. Whitecaps -
The New York Red Bulls (12W, 12L, 7T) haven’t won a match since August 15, but they’re –165 favorites this Saturday against the visiting Vancouver Whitecaps (15W, 10L, 6T), beginning at 5 PM ET. Vancouver is a +475 underdog with the draw priced at +285.
MLB Odds: Yankees Favored in AL Wild Card Game -
After a strong regular season, the New York Yankees (91-71, –1.00 betting units) opened as –235 home favourites for Tuesday’s AL Wild Card Game against the Minnesota Twins (85-77, +11.48 units). First pitch is at 8 PM ET on ESPN.
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