William Hill Profits Likely Down Over Last Year

Written by:
Jagajeet Chiba
Published on:
William Hill

William Hill, the United Kingdom's second largest bookmaker, is expected to announce interim results on Tuesday.

Analysts believe that profits at both William Hill and rival Ladbrokes (scheduled to announce results itself on Thursday) will be down over last year.  This is due to bad weather causing a number of race meeting cancellations during the month of March.  Likewise there were few surprises with May's football results.

Analysts' concensus sees pre-tax profits of £133m for William Hill.

Another potential downside for Hill is a lawsuit from 32Red.com, which alleges trademark infringement.  

Ed Ware, 32Red's founder, told The Daily Telegraph that he was "prepared vigorously to fight the action against the 32Vegas brand."  32Vegas was acquired along with other assets from Playtech following the establishment of a joint venture between the two companies.

A spokesman for William Hill said that they would be defending the action. "This is the kind of claim that is made regularly between businesses. We have been advised that this is not an issue for us and are confident of our position," he said. "We will defend our legal rights."

Pre-tax profits at Ladbrokes were expected to be at approximately £135m.

Jagajeet Chiba, Gambling911.com 

Business/Financial News