William Hill UK confirmed 900 betting shops will close across the region. The group reported that some of the betting shops will close as soon as a couple of weeks with the other ones closing shortly after.
The group also confirmed that the revenues from the shops are the reasoning behind the closure. Ever since the reduction in stakes with fixed odds betting terminals were implemented the revenues decreased significantly. William Hill is concentrating on leading the digital sector of its business, internationally.
William Hill said about 15% in decreasing operating profits have been contributed since the reduction. All shops will be completely closed in April, when the new FOBT stake is fully introduced. William Hill agrees with its rival, GVC with the industry being in “terminal decline” with the reduction. GVC plans on closing up close to 1,000 betting shops this year as well.
William Hill will turn their focus towards other international markets with acquiring Mr Green in the near future and possibly other top leading brands. The group’s CEO, Philip Bowcock said last year was a crucial year for the industry and the company, but there is more clarity on the “key challenges sand opportunities for the business.”