William Hill profit hit by UK crackdown on betting limits

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William Hill profit hit by UK crackdown on betting limits
Master Investor Magazine

Master Investor Magazine 53

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The share price of FTSE-250 bookmaker William Hill (LON:WMH) jumped by 7.26%, to 157.40p (15:02), on the back of its interim results.

For the six months ended 2nd July 2019, adjusted pre-tax profits dropped by 47% to £50.8 million on the comparative period a year earlier on revenues of £811.7 million, up by 1%. The decline in profits was driven by an overhaul of business following the introduction of new rules that reduced the maximum betting limit on gambling machines, from £100 to £2. An interim dividend of 2.66p was posted.

The gambling group added that its full-year results are expected to be in-line with market expectations.

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