13 Jan, 2021
William Hill has a 16% decline in net sales in 2020
For the year ended December 29, 2017, the group's net revenue decreased to £1.32 billion ($1.81 billion), with various national lockdowns having a negative impact on its retail operations and forcing betting shops to close for protracted periods of time. The suspension of live sports in March also caused significant disruptions.
Retail net revenue plummeted 30% on a like-for-like basis in England in 2020 as a result of two national lockdowns and the regional tiered system, and the COVID-19 limitations had an impact on its 1,414 betting shops, resulting in a £30 million loss for the year.
However, its online activities were successful; after Mr. Green's successful integration, online foreign net sales increased by 12% on a pro-forma basis, while online UK net revenue increased by 5%.
William Hill US launched in five additional states, which resulted in a 121% increase in net revenue for Q4 over the prior year, boosting the company's US net revenue by 32% for the year.
The group's overall net revenue for the fourth quarter of the year increased 9% from 2019 thanks to a return to a full sporting schedule.
The operator also stated that, after a £2.9 billion agreement struck in September, the proposed acquisition by Caesars Entertainment is anticipated to conclude in Q2 2021 or as early as March, pending receipt of the final US regulatory permissions.
Ulrik Bengtsson, CEO of William Hill, remarked that 2020 was unlike any other year. We met the challenge, maintaining the safety of our staff and customers while dramatically enhancing our competitive position via product improvements and regional development.
