William Hill posts 91% drop in profits

William Hill has posted a 91% fall in pre-tax profits to £9.1m in 2020.

The group, which is being acquired by Caesars Entertainment, saw a 16% fall in revenue amid the pandemic.

William Hill has 1,400 betting shops across the UK, which were closed for the majority of the pandemic.

“We began the year well and finished the year even stronger, highlighting the traction generated by our strategic focus on customer, team, execution,” said Chief executive Ulrik Bengtsson.

“In what was an extraordinary year I am immensely proud of how the group has responded and the resilience we have seen in our performance. We prioritised the protection and safety of both our colleagues and our customers, and our employees went above and beyond for which I thank them.”

“The William Hill brand remains highly regarded and is well-positioned for its future under new ownership. I am indebted to my colleagues and employees, who have made this happen and realised such value for our shareholders,” he added.

William Hill (LON: WMH) shares are trading -0.11% at 270.91 (0841GMT).