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NEWS 24 October 2016

William Hill chairman is not resigning

By Nicole Abbott
The noise coming out from William Hill seems to indicate that the UK bookmaker will not be in search of a new chairman as well as a new CEO in the near future.

On Sunday The Times reported that that William Hill’s Chairman, Gareth Davis, was expected to step down from his position. This article followed the sudden end to the possibility of a “merger of equals” between William Hill and Canadian online betting company Amaya.

Bookmakers have been under pressure to adapt to the tighter regulations, increasing taxes, and growing demand for an online presence, causing a number of companies – such as Betfair and Paddy Power, and Ladbrokes Plc and Gala Coral – to join forces.

William Hill, who have failed to make any successful mergers, have lost more than $1bn in market value and two of its senior executives since the beginning of 2016. The British bookmaker has turned down two possible deals in the last three months, including a merger with 888 Holdings Plc and Rank Group Plc.

However, a representative of the British bookmaker has been quick to tell Reuters: "There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business".

RELATED TAGS: Online | Land-Based | Sports Betting
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