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Betting firm William Hill says trading is holding up despite consumer downturn

19 Jan 2009

ENGLAND -- As reported by the Yorkshire Evening Post: "Betting shop and internet gambling business William Hill says trading has held up well in the face of the consumer downturn.

"The group, which has 2,300 shops in the UK and Ireland, described its performance as resilient after gross win - the amount left by losing punters - rose eight per cent in the 11 weeks since October 20 and by six per cent for the year as a whole.

"...William Hill recently bolstered its online gaming and sports betting operation following a deal with software firm Playtech.

"...The firm has forecast operating profits of £275m for 2008, around £10m higher than most City estimates.

"...Despite the solid performance, Numis Securities said it remained cautious about the company's prospects in 2009 as it expected UK bookmakers' earnings to be impacted by rising unemployment throughout 2009..."

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