William Hill has decided on launching a trading update in the middle of Covid-19. This act means to help to recover the financial losses after the pandemic. As the spread of the Coronavirus, the sports betting will be expected to the continued closure of the UK and US market, however, gaming and casino are still being expected to bring a sharp growth regardless of the harsh situation in international markets.
While William Hill’s international segment revenue increased 5% year-on-year from 11 March to 28 April; Others experienced a downward trend.
As reported, online revenue was down 21% from 2019, the retail like-for-like and US revenue follow the same trends which decreased by 85% and 90% respectively.
There are many cost-saving measures that have been taken into action by William Hill. Those are canceling salary increases, bonus payments and incentive schemes for staff, reducing marketing spends and waiving revolving credit facility covenants for the year. Doing this helps William Hill has stable financial Ability to overcome this crisis and prepare for the coming back of sport betting in the future.