William Hill is gearing up to close betting shops and overhaul other sites as it battles tough conditions on the high street and the government clampdown on fixed-odds betting terminals.
The bookmaker’s shares were down by 2.75p, or 1.6%, to 172.75p after it said that it expected to record a fall of about 15% in adjusted operating profits from continuing operations last year to about £234m. It had previously guided investors to expect between £225m and £245m.
The bookmaker will start closing loss-making shops this year. It expects that as many as 900 will eventually become loss-making as a result of the changes to fixed-odds machines.
