William Hill released a rather weak set of FY18 results although in line with estimates, which does not come as a surprise given that the company provided operating profit guidance in January. Adjusted operating profit fell by 15%, to £234m, translating regulatory headwinds and a weak performance in the UK market. We continue to see William Hill as a speculative Buy due to its booming US operations following the PASPA repeal in 2018.
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FY18: US hopes balance UK fears
- Published:
01 Mar 2019 -
Author:
Edouard Enault -
Pages:
3
William Hill released a rather weak set of FY18 results although in line with estimates, which does not come as a surprise given that the company provided operating profit guidance in January. Adjusted operating profit fell by 15%, to £234m, translating regulatory headwinds and a weak performance in the UK market. We continue to see William Hill as a speculative Buy due to its booming US operations following the PASPA repeal in 2018.