William Hill Produces A Good Year After All
Published: Tuesday, January 03, 2006 Online-Casinos.com
WILLIAM HILL PRODUCES A GOOD YEAR AFTER ALL
Latest information from UK bookie and casino gambling group William Hill shows better
than forecast results
The pessimism expressed by William Hill executives a few weeks ago was gone
as 2006 kicked off with an upbeat interview with CEO David Harding this week.
Harding said that full-year profit would beat the group's forecast as a run
of winning wagers by customers came to an end.
Earnings before interest and tax for the year ended Dec. 27 would be better
than the company's forecast of GBP 230 million ($396 million) to GBP 240 million.
In November the group warned that profits could sink below analyst estimates
due to a run of customers winning bets.
"When we put out the statement a few weeks ago, we gave ourselves the headroom
of assuming December carried on being the same as the rest of the year and actually
it was pretty good,'' Harding said. "Football and horse racing came back
to normal.''
William Hill's statement eases concerns about waning profitability at Britain's
leading bookmakers. Shares of William Hill, Ladbrokes owner Hilton Group Plc
and Ireland's Paddy Power Plc fell in November after the companies said earnings
were hurt by too many winning favorites at U.K. horse-racing meetings.
Harding said William Hill is seeing "phenomenal growth'' in its online
poker business, particularly in the U.K. and Europe. The company's Internet
casino and online sports-betting operation are also performing well, he said.
The group is due to report full-year earnings early in March.
William Hill Properties Reviewed at Online-Casinos.com:
- William Hill Dollar Online Casino Reviewed (Cryptologic Powered Casino)
- William Hill Euro Casino Reviewed (Boss Media Powered Casino)
- William
Hill Online Poker Card Room Reviewed (Cryptologic Powered Poker Room)
