William Hill says 2008 earnings hit us$ 400 million
The company has continued to show resilient trading throughout 2008, closing out the year with an 8% increase in gross win over the last eleven weeks of the year versus 2007.
Last year William Hill implemented several initiatives to enhance its online activities including the successful launch of a new sportsbook on the Orbis software platform in December. The company also completed the transaction with Playtech to create the interactive business, William Hill Online.
The company added that it continues to be in dialogue with its bank regarding its borrowing facilities, the majority of which are due to mature in March 2010. As at September 30th 2008, William Hill’s net debt was us$ 1,502.5 million, a reduction of us$ 39.9 million compared to July 1st 2008.
The company is preparing to undertake the refinancing of these facilities in due course.
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