..

William Hill Profits Likely Down Over Last Year

Written by:
Jagajeet Chiba
Published on:
Aug/02/2009
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

Mastercard Expands Cryptocurrency Services With Wallets, Loyalty Rewards

Mastercard Expands Cryptocurrency Services With Wallets, Loyalty Rewards

Mastercard Inc said on Monday it would allow partners on its network to enable their consumers to buy, sell and hold cryptocurrency using a digital wallet, as well as reward them with digital currencies under loyalty programs.

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin Notches Record High, Day After U.S. ETF Debut

Bitcoin climbed to a record high on Wednesday, and the first U.S. bitcoin futures-based exchange-traded fund (ETF) built on gains after a solid debut on Tuesday.

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Bitcoin Bull Mark Yusko Sees Trouble at $60,000

Speaking to CNBC this week, hedge fund manager Mark Yusko believes investors will take profits due to the cryptocurrency’s sharp rally over the last few weeks.

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

U.S. Becomes Largest Bitcoin Mining Centre After China Crackdown

The United States has overtaken China to account for the largest share of the world's bitcoin mining, data published on Wednesday by Britain's Cambridge Centre for Alternative Finance showed.

Fake New: How an Elaborate Hoax in the Crypto Space Led to Death Threats

Fake News: How an Elaborate Hoax in the Crypto Space Led to Death Threats

We can probably speak on behalf of CoinGeek when we say, near and dear to our hearts was today's panel on Media Influence: How News Reporting Affects the Digital Asset Market.  Like Gambling911.com, CoinGeek we know strives to report fair and balanced news.  But not every story out there in the digital assets space proves to be factual. 

Syndicate