William Hill plc

Q3 brings modest recovery in revenue

  • Sectors : Gaming
  • Companies : William Hill plc

Ratings and price correct at time of issue.

  • William Hill plc

    Closing Price: 280p

  • RATING 13/02/14

  • PREVIOUS RATING 16/02/11

    OUTPERFORM

DAVY VIEW

William Hill’s (WMH) Q3 performance highlights the group’s less favourable growth outlook than many in the gaming sector at present. Despite broadly favourable trading conditions, revenues declined 9% in the period, with the recovery proving more modest than we had anticipated. In contrast, the recent cash offer by Caesars shines a light on the potential value of its US business as part of a broader entity. We believe acquisition represents a satisfactory outcome for WMH shareholders.

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Oct 21 2020, 08:30 IST/BST

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