William Hill sees annual sales fall 16% after ‘year like no other’

William Hill sees annual sales fall 16% after ‘year like no other’

Article brief provided by Independent.ie
  • Holly Williams, Independent.ie
January 13, 2021 8:17 PM
  • Holly Williams, Independent.ie

Gambling firm William Hill has revealed its betting shop business is set to slump to an annual loss of around £30 million while group sales fell 16%, after a “year like no other”.

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The group – which is being bought by US casino giant Caesars Group in a £2.9 billion deal – said the revenue fall comes despite a better end to 2020, with growth of 9% in the fourth quarter to December 29 thanks to an online boost.

But the impact of lockdowns and restrictions on its retail estate and live sport amid the pandemic meant 2020 full-year net revenues fell to £1.3 billion.

Its 1,414 betting shops were hit hard and saw net revenues tumble 30% on a like-for-like basis over the year.