May 15, 2020

William Hill looks to German football, table tennis and phased opening

William Hill, the UK bookmaker, is planning a phased reopening of its shops after reporting that revenues more than halved during the coronavirus lockdown. Revenues across the group dropped 57 per cent in the six weeks between March 11 and the end of April on a like-for-like basis, the company said on Friday. Along with other bookmakers, William Hill was forced to close its 1,500 betting shops across the UK at the end of March as part of the lockdown. The company said that the decline in sports wagers had been less than expected as customers continued to bet on less popular sports that had continued during the global lockdowns such as table tennis and football in emerging markets. Paul Leyland, an analyst at Regulus Partners, said that the fall in sports revenues had been distorted by a strong betting week during the Cheltenham horseracing festival in mid-March, just before lockdown was announced in the UK. How is coronavirus taking its toll on markets, business, and our everyday lives and workplaces? Stay briefed with our coronavirus newsletter.

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