William Hill Unveils Plans

2 Mar 2005

UNITED KINGDOM – As reported by the BBC: "Bookmaker William Hill has unveiled plans to return £453m to investors at the same time as it announced plans to expand its betting shops empire.

"William Hill announced a 21% rise in pre-tax profits to £205.3m, towards the bottom end of market forecasts.

"It said it chose to return the cash as the softening of government plans to deregulate gaming made it unlikely that it would be able to invest in casinos.

"Instead, it is looking to expand its betting shops empire.

"…The company said its balance sheet had been further strengthened by securing new bank facilities of £1.2bn.

"It plans to return the £453m to shareholders via a 'B share' scheme, under which shareholders will exchange their share for a 'B share', which they can then exchange either for cash or a dividend payment…"

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	William Hill Unveils Plans 2 Mar 2005 UNITED KINGDOM – As reported by the BBC: "Bookmaker William Hill has unveiled plans to return £453m to investors at the same time as it announced plans to expand its betting shops empire. "William Hill announced a 21% rise in pre-tax profits to £205.3m, towards the bottom end of market forecasts. "It said it chose to return the cash as the softening of government plans to deregulate gaming made it unlikely that it would be able to invest in casinos. "Instead, it is looking to expand its betting shops empire. "…The company said its balance sheet had been further strengthened by securing new bank facilities of £1.2bn. "It plans to return the £453m to shareholders via a 'B share' scheme, under which shareholders will exchange their share for a 'B share', which they can then exchange either for cash or a dividend payment…"