Archives for August 8, 2020

William Hill to Close 119 Betting Shops as Covid-19 Has Crushed Profits

[UK Bookmaker] William Hill are to close another 119 betting shops as profits plunged at the bookmaker due to the effects of the Covid-19 pandemic.

However, the company is to repay £24.5 million in furlough funds to the government following what they described as a “robust recovery” in recent weeks since the return of mainstream sport and betting shops reopening.

Unveiling its financial results for the first six months of 2020, William Hill said net revenue had fallen by 32 per cent to £554.4m, while adjusted operating profit was down 85 per cent to £11.4m, although the bookmaker said that was ahead of expectations.