William Hill, one of the UK's largest gambling operators, has
announced excellent profits from 2008, leading to a sharp rise in its share
prices this week.
The company, which has a significant presence in the country's land based
gambling market, with 2,300 betting shops in the UK and Ireland, as well as very
successful online wagering and gaming services, said that it predicted that its
operating profits would be as much as £285 million for the whole of 2008.
As a result of the announcement, shares on the London Stock Exchange for
William Hill jumped by 10 %.
Nevertheless, certain industry experts are not convinced that William Hill's
performance will continue to look as good in the coming year, believing that the
economic recession will eventually catch up to these pleasing figures.
Numis Securities, for example, warn that the prospects for William Hill in
the new year look decidedly less grand than the 2008 figures. "We continue to
think UK bookmakers' earnings will be impacted as unemployment rises throughout
2009," said an analyst with the company.
William Hill showed resilient trading through the whole of 2008, despite
economic downfalls towards the end of the year. The company continues to look
forward with several exciting projects taking place this year. These include the
creation of an interactive brand, William Hill Online, thanks to a lucrative
deal signed with Playtech, as well as the launch of a sportsbook on the Orbis
software platform at the end of last year.
