William Hill Operating Profit Slumps On Regulatory Cap, U.S. Expansion Cost [Reuters]
WILLIAM HILL PLC ADR (WIMHY)
NASDAQ:AMEX Investor Relations:
williamhillplc.com/investors
Company Research
Source: Reuters
William Hill PLC (WMH.L) Key Developments | Reuters.com Aug 9 (Reuters) - William Hill PLC ::HY GROUP NET REVENUE UP 1% TO £811.7M.HY ADJUSTED OPERATING PROFIT DOWN 33% TO £76.2M REFLECTING £2 STAKE LIMIT AND INVESTMENT IN US EXPANSION.INTERIM DIVIDEND OF 2.66P PER SHARE.ELDORADO RESORTS ACQUISITION OF CAESARS ENTERTAINMENT WE ANTICIPATE WOULD GENERATE C$20-35M ADDITIONAL RETAIL EBITDA WITHIN THREE YEARS.FULL-YEAR PERFORMANCE EXPECTED TO BE IN LINE WITH PREVIOUS GUIDANCE.EXCEPTIONAL CHARGE AND ADJUSTMENTS OF £114.3M IN HY, INCLUDING £97.1M RELATING TO MITIGATION MEASURES FOLLOWING £2 STAKE CHANGE.HY LOSS BEFORE TAX 63.5 MILLION STG VERSUS LOSS OF 819.6 MILLION STG.CONTINUING TO PURSUE COST REDUCTION MEASURES, INCLUDING ENGAGING WITH C1,700 LANDLORDS OF OUR C2,300 LICENSED BETTING OFFICES.CONTINUE TO EXPAND RAPIDLY IN US, BOTH IN NEVADA AND IN NEW STATES.NOW EXPECT ADJUSTED OPERATING PROFIT FOR YEAR TO BE IN MIDDLE OF £50-70M RANGE PREVIOUSLY GUIDED TO.EXPECT LOSSES FROM OVERALL US BUS
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