Jan 13, 2020
William Hill will have few regrets over US and CEO bets
Bookmaker William Hill directs hyperactive punters to responsible gaming charity GambleAware, to help them avoid "Bet Regret: the sinking feeling you get the minute you make a bet without thinking it through. Often when . . . chasing losses". William Hill said this was partly thanks to profit from its retail business exceeding a previously guided range of £50m to £70m - and this despite the closure of 700 betting shops after a regulatory crackdown on fixed-odds betting terminals. William Hill's UK retail business can only benefit from a bigger push into digital channels now that its betting shops have undergone their enforced "Remodelling strategy". Its US business provides even greater potential as a digital sports betting partnership with casino group Eldorado, which has 23m customers. Analysts at Shore Capital describe the deal as "a game-changer" that could make William Hill's US business worth more than its current market capitalisation, if it can retain a 5 to 10 per cent US market share.
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