William Hill (bookmaker)

Ticker WMH

Today's data summary

Market closed
% change
+2.58%
Price Pence
160.90
Change
+4.05
As of 04:59 16 Dec 2018
Market cap. Pound sterling
1,384.73 million
As of 04:59 16 Dec 2018

Latest updates

William Hill suspends PM leave date bets

William Hill
Reuters

Bookmaker William Hill has announced that it is suspending betting on when UK Prime Minister Theresa May will leave office.

It comes amid speculation that she could face a confidence vote from the Conservative Party.

William Hill stock slumps on profit downgrade

Horseracing
Getty Images

William Hill is another company that has seen its share price slump this morning - down 7.6% at 197.95p.

In the bookmaker's case, it is because it has lowered its full-year operating profit outlook to between £225m and £245m.

Analysts on average had expected around £242.6m and it compares to the £291.3m operating profit William Hill reported in its last financial year.

William Hill bets on web and US for growth

Gamblers in a betting shop
PA

Bookmaker William Hill said online is growing while retail continues to shrink.

In a trading update for the year to date, it said online net revenue climbed 4% while retail net revenue slipped 4%.

However the firm warned that profits will be cut by by £20m in 2018 and £25m in 2019 because "adverse regulatory and tax changes will impact online profit growth".

It said US expansion plans are going well with the firm taking in around $200m in bets in Delaware, New Jersey, Mississippi and West Virginia and through an app in New Jersey.

"Out goal is to be in every state," said chief executive Philip Bowcock.

It predicted that full-year operating profit will be between £225m to £245m.

Yesterday Philip Hammond admitted that he bowed to betting industry lobbying over job losses to delay action on fixed-odds betting terminals.

William Hill's £241m Swedish bet

William Hill sign
Reuters

William Hill is paying £241m for Sweden-based online betting firm Mr Green & Co - a 48.5% premium to its closing share price on 30 October.

Mr Green operates in 13 markets under brands including Redbet and holds remote gambling licences in Denmark, Italy, Latvia, Malta, the UK and Ireland, and expects to obtain Swedish licences by the end of the year.

The combination of William Hill and Mr Green will create a "strongly positioned combined business" with a pan-European footprint in online betting and gaming markets, the firms said, alongside operations in the UK and the US.

Philip Bowcock, William Hill chief executive, said the deal will immediately make the firm a "more digital and more international business".

888 Holdings launches in New Jersey

Asbury Park in New Jersey,
Getty Images

888 Holdings is expanding in the US by launching its brand in New Jersey.

Earlier this year, the Supreme Court cleared the way for states to allow sports betting.

Last week, William Hill secured a deal with Eldorado Resorts that will give the UK bookmaker to US casino operator's customers.

888 Holding's chief executive Itai Frieberger, says: "The launch of 888sport.com in New Jersey is a major milestone for the company in our ongoing expansion across the regulated US online gaming market."

Royal Mail leads FTSE risers

Royal Mail
Getty Images

The FTSE 100 has extended falls and is now trading down 0.53% at 7,418.49.

Royal Mail is now leading the blue chip risers, up 2.4% at 469.5p while bottling group Coca-Cola HBC is the biggest faller, down 2.7% at £25.85.

William Hill is now up 5.7% at 262.7p after signing a partnership deal with Eldorado Resorts to expand its US operation.

The wider FTSE 250 is down 0.25% at 20,498.64.

William Hill leads FTSE 250 risers

William Hill is leading the FTSE 250 risers after announcing a deal to extend its reach across the US.

The bookmaker's share price rose by 3.7% to 257.65p.

Overall, the FTSE 250 is down 0.13% at 20,520.98.

Gambling operator GVC Holdings is the biggest riser on the FTSE 100. It's share price is up 1.1% at £11.08.

Paper and packaging group Mondi is the biggest faller, down 2.3% at £20.99.

The wider FTSE 100 is off 0.44% at 7,425.04.