William Hill warns of £2m impact to earnings from further lockdowns
Bookmaker William Hill has warned that further local lockdowns triggered by a fast-spreading second coronavirus wave would hit core earnings, as it posted lower third-quarter revenue due to a fall in gaming revenue.
William Hill, which is set to be taken over by US casino operator Caesars Entertainment, estimated that shutting 100 shops for four weeks due to further local lockdowns would reduce core earnings by around £2m.
Currently, around 10 per cent of its retail estate is located in regions where the local Covid-19 alert level is classified as 'very high'.
Despite this, the firm, which operated 1,414 shops across the UK in the13 week period to September 29, said it had delivered a good performance as the return of live sport accelerated and its retail estate reopened.
The firm, which has 1,300 employees in Leeds, said it enjoyed continued good performance in its International Online business with gaming growing double digits, partially offset by unfavourable sports results.
Ulrik Bengtsson, CEO of William Hill, said: "We are very pleased with the trading performance of the group, which has been borne out of the commitment, resilience and hard work of our teams across the business. I could not be prouder of them.
"We have moved the company forward with our relentless focus on our customers, enhancing the competitiveness of our product, and maintaining player safety as one of our highest priorities.
"We have reinvigorated the leadership team and they, in turn, have empowered their teams to deliver on our plans."