William Hill set for annual profit of £290 million as draws prove good for bookie
WILLIAM Hill is set to score forecast-beating annual profit of £290 million.
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This figure is up 11 per cent as football and horse racing results go the way of the bookmaker.
Premier League draws, including the recent match between Crystal Palace and Manchester City, are good for the bookies as punters tend to bet on wins.
The FTSE 250 company also announced it could quit the Australian betting market as regulatory pressures there mount.
Citing a credit betting ban and likely introduction of a consumption tax which will squeeze profits, Hills is undertaking a strategic review of the business.
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Chief executive Philip Bowcock said in a statement: "We have delivered a strong result in 2017, reflecting our focus on rejuvenating online, growing the US and building an attractive omni-channel proposition.
"At the same time, we are continuously improving how we enable customers to gamble responsibly.
"We are excited about the opportunities ahead in 2018 - a World Cup year - with our competitive position reasserted in the UK and with the potential for sports betting to open up in the US."
