William Hill PLC Trading Statement evoke plc
William Hill PLC Trading Statement
William Hill PLC (LSE: WMH) (William Hill or the Group), a leading global bookmaker and gambling company, announces trading updates for the unallocated 13 weeks (Q3 or Q3) to 29 September 2020.
Highlights
- Accelerated recovery of live sports revenues and resumption of retail network operations deliver sustainable performance across the Group
- Double-digit growth in gaming and continued positive indicators in international online, partially offset by unfavourable performance in sports
- Further progress in British Online and accelerated introduction of competitive products.
- UK retail recovers rapidly, with store numbers returning to pre-COVID program levels.
- Strong mobile growth in the US and a good recovery in retail sales on the back of live sports coverage and William Hill opening new locations in four states.
CEO Ulrik Bengtsson said: "We could not be more proud of this performance, thanks to the compliance, stamina and hard work of the whole group."
"We are driving the company forward with great attention to our customers, competitiveness of our products and keeping the safety of our players as one of our top priorities. We are breathing new life into our leadership team and they in turn are empowering them to execute our plans."
Net revenue growth: Year to Date 1,2
Natural Total Sales Growth (g/g)
Coronavirus Week 1-10
Q3 Week 2 27-39
Year to Date 2 Weeks 1-39
Retail Like 3
-5%
-32%
-9%
-25%
Operational Summary
Q3 performance was strong across all divisions, with the UK and international online business showing continued strong growth and the UK retail business remaining close to the same period last year at comparable prices. In addition, deals with CBS and ESPN expanded digital and media coverage in the growing US market.
Sports broadcasting also resumed, with soccer, ski jumping, tennis, and US sports being broadcast. However, the number of matches is still below normal, and many competitions were held behind closed doors, making the results more unpredictable than usual. As a result, the overall winning percentage has remained unstable, and this situation is expected to continue.
Apart from this, we will continue to smoothly the results for our business by managing the cost of Kobido 19 as a government as a government as a government as a government. 。 Thanks to the measures we accept strategic and economic elasticity, we have all the opportunities to overcome financial trout opportunities and advance risks related to the increase in the adjustment burden of the game business.
Online
International online games, we have renewed the live casino "MR GREEN" and provide enhanced skills to cooperate with players in various regions regarding the introduction of multiple major games. We have launched a new application to provide district services in several major markets, contributing to the increase in rescue of rescue that has not actually been trained during gambling during the period.
In the UK online games, new features have been added and new game products have been gradually improved. Before the opening of the UK Premier League's new season, Sports Betting announced a new betting table. This is the first larg e-scale renovation of our English architecture in the past five years, and to understand the process of placing a bet more intuitively, and quickly provide new features. You can introduce it.
In the trend of Coronovirus, customer protection continued to be priority. The enhanced security countermeasures introduced during the blocking have been maintained, and the appearance of an implicit rescue by bed has indicated a reliable protection fence for the whole period. Apart from this, an hour of session reminder has been added to all gaming customer. We continue to actively communicate with the government and other stakeholders and reach the eve of gaming review.
In Germany, 16 federal territory (Lander) agreed on a gambling system and began operation on October 15, 2020. Many measures were taken, including deposits of $ 1, 000 per month and refusal to live casinos. Apart from this, a sports betting license process has been resumed, and the group has actively submitted orders to get these licenses. In fact, thanks to the resurrection of mult i-brand scenarios and marketing opportunities, we wait for EBITDA's contribution to about 10 million pounds in 2021, and then soften the results.
Retail
Later, the resumption of business transactions in England, which managed 1, 414 stores during the report period, showed good results. It was proved in a timely and appropriate way to optimize the amount of network by responding flexibly to changes in the transaction environment and the effects of the past. With the measures taken to ensure fasting speed in the country of the smallest country, and taking measures taken to secure betting, the outstandingness of our store format has returned to the level before the introduction of Cobid's power. The strategic grouping of the Internet business and retail business in the UK has begun to take the next logical steps to develop British businesses to provide customers with seamless skills.
Based on bad achievements and decisive actions to maintain a foreign exchange agent, protect fluid, and enhance balance, the amount of £ 24. 5 million is £ 24. 5 million on how to pay for the Workspace Warehouse Program related to Coronavirus. I promised.
Local restrictions were introduced in the third quarter, and our ensemble in Scotland worked on restricted criteria, and the introduction of slot machines was not restored on August 24. We will continue to fulfill our central and district government councils, which give special attention to our buyers and colleagues, and to provide absolute wages to our employees.
Regarding the subsequent closure of the region, if the average of 100 stores are closed for four weeks, EBITDA will decrease by about 2 million pounds and will not complain. In real time, within 10 % of our retail spaces, in accordance with the latest government information, the local excitement COVID-19 is designated as "very high".
US
In the United States, MLB, NBA, and NHL's 2020 season have just resumed at the end of July, and the resumption of fac e-t o-face sports content and retailing is delayed. In real time, it was open in 14 states, opened in Colorado, Illinois, Michigan, and Washington in the third quarter in the third quarter in October. The increase in betting was important, and 72 % of the activity took place through a mobile channel.
With our lon g-term joint monopoly contracts concluded by our partner Caesters Entertainment, we were able to expand our media and digital presentation by connecting ESPN. Combined with a unique contract concluded at the CBS in February, William Hill US has access to two major sports media brands in North America.
We have yet to close the acquisition of Cantor Sports Books and have begun the integration of Caesar's private sportsbook. Next, the absolute integration of Caesar's sportsbook will result in over 170 institutions having William Hill's mobile presence in 15 states.
Company Profile 1: 13 Weeks Through September 29, 2020
Overall Unspeakable Revenues
Pure Revenues from Gambling
Sports Board
Sportsbook Gross Margins
Gross Margin Changes
Retail Like 3
-9%
-5%
+4%
VAT recovery and Revolving Credit Facility
In the first half of 2020, HMRC approved the non-appeal of VAT refunds on some slot machines. There is a component on appeal and, in fact, we are waiting for the fee differential to be obtained within the foreseeable time. In the third quarter, we repeatedly extinguished our credit facilities and as a result, we expect our insolvent debt/EBITDA metric to be at a level of 1-2x by the end of the year.
Recommended cash acquisition
June 30, 2020 Recruitment dates for William Hill, Caesars and Caesars UK Bidco are the largest shareholder of Caesars UK Bidco in the world. William Hill has 272 employees. The proposal is justified, inter alia, by the instigation from shareholders and the receipt of specific authorisations from regulators.
The recommended foreign exchange vehicle offer is proposed to be carried out by means of a scheme of arrangement under section 26 of the Companies Act 2006. More detailed information on the scheme will be posted in the prescribed manner.
Notes
- Unless otherwise specified, the rate of increase will be based on normal performance.
- Within the framework of the Q3 trading update, it will be compared to the 13th week of July 1, 2020 to September 29, 2020, going back to the 13th week of July 3, 2019 to October 1, 2019, three weeks of 13 weeks.
- The year-on-year (LFL) indicator shows the results of the stage aggregation based on the same stores (excluding stores closed without change in the previous year and this year, the 713 stores closed in the third quarter of 2019 and the 119 stores closed in the first half of 2020 are the most, but exceed the stores closed so far due to Covid-19).
- If declaring a state, Washington, District of Columbia enter this amount.
Enquiries
William Hill PLC
Louise Turner-Smith, Investor Relations Director
Alison Cole, Corporate Communications Director
Tel: +44 (0) 20 7612 3251
Andrew Porter/Samantha Chien
Tel: +44 (0) 20 7404 5959
About William Hill
William Hill PLC is the world's largest bookmaker and gambling company with about 12., 000 employees. It originated in the UK, established in 1934 and listed on the British Stock Exchange. Most of the annual sales of 1. 6 billion pounds (approximately 10 billion yen) are still from England and are considered to be one of the most popular companies that have gambling operators with licenses nationwide. I am. The European online company WILLIAM HILL is headquartered in Gibraltar and Malta, which was established in January 2019 with MR Green & Amp; Amp; Amp; Co AB, and online companies have a license in 10 states. The company established William Hill US in Nevada in 2012, focused on retail and mobile business, and became the largest sports betting operator in the United States. Since the Federal Supreme Court ruled unconstitutional in the Federal Supreme Court to ban sports betting, William Hill US has been expanding as the number of states regulating sports betting has increased and is still expanding. The company is currently operating in 14 states: Colorado, Delaware, Illinois, Indiana, Iowa, Michigan, Mishigan, Nevada, Nevada, New Mexico, New Jersey, Pennsylvania, Lord Island State, Washington DC, West Virginia. Rea l-time Eldorado Resorts has a promotional stock equivalent to 20 % of the official funds of William Hill US Holdco's holding company of William Hill. < SPAN> William Hill PLC is the world's largest bookmaker and gambling company with about 12., 000 employees. It originated in the UK, established in 1934 and listed on the British Stock Exchange. Most of the annual sales of 1. 6 billion pounds (approximately 10 billion yen) are still from England and are considered to be one of the most popular companies that have gambling operators with licenses nationwide. I am. The European online company WILLIAM HILL is headquartered in Gibraltar and Malta, which was established in January 2019 with MR Green & Amp; Amp; Amp; Co AB, and online companies have a license in 10 states. The company established William Hill US in Nevada in 2012, focused on retail and mobile business, and became the largest sports betting operator in the United States. Since the Federal Supreme Court ruled unconstitutional in the Federal Supreme Court to ban sports betting, William Hill US has been expanding as the number of states regulating sports betting has increased and is still expanding. The company is currently operating in 14 states: Colorado, Delaware, Illinois, Indiana, Iowa, Michigan, Mishigan, Nevada, Nevada, New Mexico, New Jersey, Pennsylvania, Lord Island State, Washington DC, West Virginia. Rea l-time Eldorado Resorts has a promotional stock equivalent to 20 % of the official funds of William Hill US Holdco's holding company of William Hill. William Hill PLC is the world's largest bookmaker and gambling company with about 12., 000 employees. It originated in the UK, established in 1934 and listed on the British Stock Exchange. Most of the annual sales of 1. 6 billion pounds (approximately 10 billion yen) are still from England and are considered to be one of the most popular companies that have gambling operators with licenses nationwide. I am. The European online company WILLIAM HILL is headquartered in Gibraltar and Malta, which was established in January 2019 with MR Green & Amp; Amp; Amp; Co AB, and online companies have a license in 10 states. The company established William Hill US in Nevada in 2012, focused on retail and mobile business, and became the largest sports betting operator in the United States. Since the Federal Supreme Court ruled unconstitutional in the Federal Supreme Court to ban sports betting, William Hill US has been expanding as the number of states regulating sports betting has increased and is still expanding. The company is currently operating in 14 states: Colorado, Delaware, Illinois, Indiana, Iowa, Michigan, Mishigan, Nevada, Nevada, New Mexico, New Jersey, Pennsylvania, Lord Island State, Washington DC, West Virginia. Rea l-time Eldorado Resorts has a promotional stock equivalent to 20 % of the official funds of William Hill US Holdco, a holding company of William Hill.
Cautionary note regarding forward-looking statements
The poster has a statement that is being considered as a "predictive statement" or a highly possible statement. These descriptions may be identified regarding the use of terms related to monitoring. These predictions include all issues that are not regarded as a historical precedent. They are found in the real results of the boring method and all types of information included in these results, remaining in William Hill and its operating branches, the management, financial status, fluidity, fluid, fluid. Includes the opportunity, appearance, appearance, strategy, dividend politicians, the planning of William Hill or Group's plan, views, and descriptions of the current predictions. Due to its nature, the prediction description is related to the event, relying on the future event that has all possibilities, controlling the probability, or predicting William Hill, with risk and uncertainty. Masu. The forecast < Span> This poster has a statement that is being considered as a "predictive statement" or a highly possible statement. These descriptions may be identified regarding the use of terms related to monitoring. These predictions include all issues that are not regarded as a historical precedent. They are found in the real results of the boring method and all types of information included in these results, remaining in William Hill and its operating branches, the management, financial status, fluidity, fluid, fluid. Includes the opportunity, appearance, appearance, strategy, dividend politicians, the planning of William Hill or Group's plan, views, and descriptions of the current predictions. Due to its nature, the prediction description is related to the event, relying on the future event that has all possibilities, controlling the probability, or predicting William Hill, with risk and uncertainty. Masu. The expected poster has a statement that is being considered as "predictive statements" or a highly possible statement. These descriptions may be identified regarding the use of terms related to monitoring. These predictions include all issues that are not regarded as a historical precedent. They are found in the real results of the boring method and all types of information included in these results, remaining in William Hill and its operating branches, the management, financial status, fluidity, fluid, fluid. Includes the opportunity, appearance, appearance, strategy, dividend politicians, the planning of William Hill or Group's plan, views, and descriptions of the current predictions. Due to its nature, the prediction description is related to the event, relying on the future event that has all possibilities, controlling the probability, or predicting William Hill, with risk and uncertainty. Masu. prediction