Published
FinancialIndustry

William Hill posts £722m pre-tax 2018 loss due to "exceptional charges"

William Hill has reported a loss of £722m ($956m) before tax for 2018, compared with a profit of £147m for the previous year. This comes despite revenue rising 2% from £1.59bn to £1.62bn.

williamhill 2017

The operator attributed its loss to costs of £922m, which includes an £882.8m exceptional retail impairment charge following the UK government’s Triennial Review into fixed-odds betting terminal (FOBT) stakes.  

The company continued to expand its US footprint, now live in six states with access secured to 17 in total. It also completed the acquisition of Mr Green for c£242m in January.  

But adjusted operating profit from existing operations declined 3% to £266.8m, although this was in line with company expectations.

Full-year dividend is reported as £0.12 per share, in line with policy to pay out approximately 50% of underlying earnings before US expansion costs.

Philip Bowcock, William Hill CEO, described 2018 as a busy and decisive year for the operator.  

He said: "We know the next few years will require careful navigating and investment, but with a clear strategy and diverse, experienced leadership teams in place, we are ready to capitalise on the opportunities available to us."

This announcement is in line with mixed results from H1 2018, when net revenue increased by 3% to £802.6m.

However, adjusted operating profit declined 12% for the first half of the year, to £113.6m, and profit before tax fell by 13% to £96.3m.

Premium+ Connections
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
Premium
 
 
Premium
 
Premium
 
Premium
 
Premium Connections
Consultancy
Executive Profiles
Seminole Hard Rock Support Services
Seminole Hard Rock Support Services
Metropolitan Gaming
Holland Casino
Nederlandse Loterij
Follow Us

Facing Facts: Q1 2024 analysis from across the globe

Gambling Insider tracks the Q1 results of operators across t...

Taking Stock: A guide to sports betting operator and supplier prices

Gambling Insider tracks sports betting operator and supplier...

Tailor-made: The power of personalisation in the modern gaming industry

With insights from GR8 Tech, Greentube and the Oregon Lotter...

Sportradar and the Taiwan Sports Lottery: More offerings, greater efficiency

Danny Fok, VP of Strategic Projects at Sportradar, speaks al...