It has been a shaky year with some success and some negative outcomes. William Hill 2016 profit has been affected by a number of factors.
William Hill 2016 profit meets forecast
The William Hill gambling organisation has just reported making an operating profit of £260 million for 2016. The statement was for the 52 weeks up to December 27th 2016.
It was forecast the William Hill could make a profit of £280 million for the 2016 year-end. However, William Hill explained that the £20 million shortfall was due to poor sports betting outcomes which went against the bookmaker overall. William Hill, in a statement said that they hoped to achieve better performance during 2017.
The UK gambing industry is being hit hard by online casino taxation. Latest proposed measures include a tax on benefits to customers from sign up offers. This may be the end of free spins and bonus offers.
Changes to Online Casino Taxation
The online casino industry is about to undergo a major change in Taxation if proposed UK Revenue and Customs plans succeed.
Online casinos have been falling over themselves to attract new customers with generous sign up offers. Frees spins are offered on slot machines as an incentive for customers to sign up. Then after depositing money in the casino, bonus offers of 100% are given to customers doubling the amount deposited. These offers are many and variable between the online casinos. Bonus offers and free spins are also awarded to existing customers as an incentive to keep them playing in a particular casino.
It is reported that this William Hill sponsorship deal with ITV will allow them to be the named sponsor of horse racing broadcasting for a new four year contract.
William Hill Sponsorship Deal from 1st January 2017
Dubai in the United Arab Emirates has sponsored ITV’s horse racing broadcasting sponsor for the past 10 years. Sheik Mohammed bin Rashed Al Maktoum heads up Dubai, he is a prominent figure in international horse racing. Dubai decided to withdraw making way for another sponsor.
During that time period Channel 4 have been the broadcaster of horse racing. Now it is to be taken over by ITV. This sponsorship deal came as a result of the change of broadcaster opening up a new partnership opportunity. Another strong contender for the new sponsorship deal was Sky Sports.
Sport gambling history shows it has become on of the most popular forms of gambling in the modern-day since it went online. Gambling on sports events is now hugely popular.
Sport Gambling History
Since the late 1950’s, one of the most popular types of sport gambling was entering the football pools. The object was to predict eight draws in top flight football and achieve 24 points. If you won the top prize it was a life changing win. Littlewoods, Vernons and Zetters were the major companies involved. You could enter by post or have a local agent collect your entry. The outlay was very small and many people started entering the football pools when the results were first televised. It was a hugely popular socially acceptable from of gambling.
UK Betting Shop History began during May 1961 after the Betting and Gaming Act allowed bookmakers to operate from shops.
The Story of UK Betting Shop History
After the Betting and Gaming Act 1961 was introduced it allowed betting shops to open for business. Prior to that official gambling could only take place in the field at the numerous dog and race tracks around the UK. Of course illegal gambling was rife but it was hoped the new Act would allow better controls.
That was the trigger for starting of a big new lucrative business. Betting shops were soon opening up in every conceivable location and after the first six months there were 10,000 open for business. It became the fastest growing industry in the UK at the time.
Yesterday it was announced that the proposed Ladbrokes Coral Merger would proceed following the combined sale of betting shops to meet regulatory requirements.
Ladbrokes Coral Merger Approved by CMA
The proposed merger has finally been approved by the Competition and Markets Authority (CMA).
The merger had been almost approved by the CMA subject to Ladbrokes and Gala Coral have agreeing to sell 359 betting shops to rival bookmakers to meet the regulators requirements. This week Coral and Coral said they would sell 322 shops to Betfred for £55m in cash and a further 37 to Stan James for £500,000. After the merger, Coral will sell 174 shops and Ladbrokes will sell 185.
For the past few weeks there have been talks of a merger between William Hill and Amaya, a Canadian online gambling company. There has been a lot of speculation about the possible outcome of these talks.
Officially these William Hill Amaya talks have now been terminated.
A statement issued by the William Hill’s board of Directors said, “Various exploratory due diligence and other workstreams were underway but far from complete. After canvassing views from a number of William Hill’s major shareholders, the Board has decided that it will not pursue discussions with Amaya.” The statement followed discussion with major shareholders.