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William Hill (WMH)     

rolling - 04 Nov 2003 14:05

Where do you think they will go to or should i sell now

HARRYCAT - 28 Jun 2017 18:41 - 440 of 472

Canaccord today:
"The pace of change in the US laws regarding sports betting and online gaming has been glacial. But there was an interesting milestone yesterday, pointing to the potential legalisation of sports betting across much of the US.
The US Supreme court announced yesterday that it will hear arguments on whether to permit sports betting in New Jersey. If favourable, it would overturn the rather curious Amateur Sports Protection Act (PASPA). PASPA only permits racetrack betting on "animal racing", other than (as a quirk of history) Nevada, which is allowed fully licensed sports books, and in Oregon, Montana and Delaware, which have sports lotteries. New Jersey's proposals would only allow sports betting at Casinos and Racetracks, and would prohibit betting on some sports (ie College football). But if New Jersey wins, then other States will undoubtedly follow, and we could expect to see land-based sports betting proliferate across much of the US, with some obvious exception (ie Utah).
There is no guarantee that the hearing will be favourable, and realistically, the outcome is unlikely to be clear until 2018. But this does suggest a sea change in attitudes towards sports betting - the NBA, for example, is now favourable to legalising betting on basketball, having previously been fiercely opposed.
The major initial beneficiary of any change would be William Hill (Hold, TP 290p), which is the leading land-based sports betting operator in Nevada. However, we would see the legalisation of some land-based sports betting as paving the way for Online sports betting in some states. We believe the most obvious beneficiaries would be GVC (Buy, TP 850p) and 888 (Buy, TP 330p), which both operate in New Jersey (Casino and Poker), and have strong domestic partnerships - with MGM and Caesars, respectively. Playtech (Buy, TP 1140p) would also be well placed as a potential technology supplier to domestic operators."

HARRYCAT - 28 Jun 2017 18:45 - 441 of 472


Investec note:
We see further headwinds for William Hill with tough comparables given the Euros in 2016, very poor GWMs in all four divisions in the last 2 months of H117E, a credit betting ban in Australia (we estimate a c.17.5% loss of Australian revenue from March 2018), a change in revenue mix in Australia (lower future GWMs) and higher central costs. The Triennial Review poses further risk to Retail revenue while the CMA review raises the risk of fines and lower customer acquisition/monitored bonusing. We set our TP at 245p (prev. 279p) and downgrade to SELL from Hold.
FY17/FY18E EPS downgraded by 8.1%/5.0: We lower FY17E EPS to reflect weaker GWMs YTD, higher central costs and changes to the revenue mix (more racing and less sports) which we expect to lead to lower future GWMs. For FY18E, we reduce EPS for these reasons as well as an Australian ban on credit betting (assumed from 1 March 2018 onwards).
Last 2 months of H117: WMH last updated the market on 9th May, when it reported net revenue growth of 9%. We expect GWMs to be significantly lower across all 4 divisions for the remaining 2 months of H117E given punter-friendly sports results. We estimate Retail, Online, Australian and US gross win margins of 16.5%, 5.8%, 7.6% and 5.6% respectively for the remaining 2 months of H117E. This results in H117E GWMs for Retail, Online, Australia and the US of 17.5% (H116: 19%), 6.9% (H116: 7.3%), 8% (H116: 9.9%) and 6% (H116: 5.7%) respectively. We now forecast FY17E EBIT of £258.7m.
Aussie credit betting and lower future GWMs: We downgrade FY18E Australian revenue by 8.3% and EBIT by 10.9% (assuming 10 months of the credit betting ban). We now assume a GWM between 9% and 10% (down from 10%-11%) given changes in revenue mix (more racing, less sport and less in-play).
Valuation: We lower our target price to 245p to reflect higher central costs, the credit betting ban in Australia and greater risk surrounding both the CMA review and Triennial Review given the outcome of the recent UK election. We value the Group at 8.0x FY17E adj. EV/EBITDA. The shares trade at 8.5x FY17E EV/EBITDA."

Australia (5% of EBIT): While the sportsbetting market is growing at 15%pa, the business faces familiar headwinds in terms of competition, regulation and taxation. Please see our note of 16 June following a meeting with Tom Waterhouse, CEO of William Hill Australia. Last week the Australian government announced it would legislate to ban credit betting, which represents 30% of group revenues and 25% of gross profit. Assuming the legislation proceeds this could impact profits by around £17m next year. In addition there is a significant risk of tax increases, which may prompt consolidation in the market.

HARRYCAT - 02 Aug 2017 07:44 - 442 of 472

StockMarketWire.com
William Hill said its online and retail divisions in the UK were growing at or above market growth rates in the 26 weeks ended 27 June 2017.

HIGHLIGHTS:
- Online: UK Sportsbook amounts wagered +13% and UK gaming net revenue +9%

- Retail: amounts wagered +2% and gaming net revenue +3%

- International revenue growth: continued net revenue growth in Australia and US

- Transformation and technology: on track to deliver £40m of annualised efficiency savings by year-end and, over the long term, improved revenues, greater cost efficiency and better organisational effectiveness

FINANCIAL RESULTS:
- Group net revenue up 3% to £837m

- Adjusted operating profit of £129.5m, down 1%

- Adjusted EPS2 of 11.2p, up 7%

- Strong cash generation with operating cash flow of £115.3m

- Balance sheet remains healthy with net debt for covenant purposes of £604.6m, 1.7x EBITDA

- Interim dividend increased 4% to 4.26p per share, reflecting the group's continued strong cash flow and the Board's confidence in delivery of strategic priorities

2517GEORGE - 23 Nov 2017 16:44 - 443 of 472

Some short lived excitement in WMH late this afternoon touching 305p before finishing @ 283.80p up 5.80p

HARRYCAT - 24 Nov 2017 12:29 - 444 of 472

StockMarketWire.com
William Hill confirmed that it is in "very preliminary: discussions with CrownBet, the 62%-owned online wagering business of Australia's Crown Resorts, regarding a possible combination with William Hill Australia.

The admission came in response to media speculation.

"There is no certainty that these preliminary discussions will lead to any transaction," William Hill said.

HARRYCAT - 22 Jan 2018 13:13 - 445 of 472

Big drop for all the bookies as the maximum bet for fixed odds betting machines is rumoured to be a mandatory £2.

Claret Dragon - 24 Apr 2018 11:15 - 446 of 472

Someone back a winner!!!!

Whats the story here?

HARRYCAT - 24 Apr 2018 11:38 - 447 of 472

Seems the £2 max bet on FOBM's is set to become reality. Sp down 13%,

Claret Dragon - 24 Apr 2018 12:23 - 448 of 472

I suppose the punters who use "FIXED odds betting terminals". Clue is in the title.

Will just have to spend longer at the machine to lose the same amount.

HARRYCAT - 16 May 2018 13:30 - 449 of 472

CBS News
"The rush for legal sports betting is on, and gamblers around the U.S. have New Jersey to thank for what experts think will be an onslaught of action.

Monday's Supreme Court's ruling strikes down a 1992 federal law barring gambling on football, basketball and other sports in most states. Within minutes of the decision becoming public, state governments and companies announced plans to jump into the betting business."

HARRYCAT - 17 May 2018 12:53 - 450 of 472

StockMarketWire.com
Annualised adjusted operating profit in William Hill's retail division could be reduced by £70m to £100m as a result of a decision by the Department for Digital, Culture, Media and Sport (DCMS) to reduce the maximum stake on B2 games from £100 to £2.

In the first four months of the current financial year, around 70% of William Hill's total gaming machine net revenue was generated by stakes in excess of the proposed £2 threshold.

The annualised impact of a £2 staking limit could be a reduction in total gaming net revenue of 35% to 45%.

The stake limit could result in around 900 William Hill shops (38% of its existing Retail estate) becoming loss-making. A proportion of these would be at risk of being closed within a relatively short time of the proposed staking change being implemented.

The board's current intention is to retain the existing dividend policy to pay out approximately 50% of underlying earnings.

Philip Bowcock, chief executive officer, said: "William Hill has a long and proud heritage as part of the UK high street and we know how important betting shops are to our customers and their local economies. The government has handed us a tough challenge today and it will take some time for the full impact to be understood, for our business, the wider high street and key partners like horseracing. We will continue to evolve our Retail business in order to adapt to this change and we will support our colleagues as best we can. Despite the challenges presented by this decision, our teams will compete hard and offer great service to William Hill customers."

HARRYCAT - 03 Aug 2018 08:18 - 451 of 472

StockMarketWire.com
Gambling group William Hill swung to a deep first-half loss after it wrote down the value of its assets to account for a looming UK regulatory crackdown.

Pre-tax losses for the six months through June amounted to £819.6m compared to a £93.1m profit on-year, and included a £882.8m non-cash impairment charge.

The UK government recently announced that it would slash the maximum bet allowed on fixed-rate betting terminals to £2 from £100 from 2020.

On an underlying basis, William Hill's adjusted pre-tax profit fell 13% to £96.3m, even as revenue rose 3% to £802.6m.

Adjusted operating profit from existing operations, which excluded US states in which the company had recently expanded, rose 1% to £130.8m.

'William Hill has performed well during the first half of 2018 and, following major regulatory decisions in the UK and US, we now have greater clarity over the challenges and opportunities that lie before us,' chief executive Philip Bowcock said.

The US Supreme Court in May legalised sports betting across the company and William Hill has already started growing revenue rapidly in that market, though established costs have weighed on profits there.

William Hill said it had a 'good' World Cup, recording more than a million active users across the tournament

HARRYCAT - 24 Oct 2018 08:58 - 452 of 472

William Hill PLC (LSE: WMH) announces that on Tuesday, 6 November 2018, the Group will announce a trading update for the unaudited 17-week period ended 23 October 2018. A conference call for the trading update will be held at 8.30am GMT on the day

HARRYCAT - 25 Oct 2018 09:48 - 453 of 472

Chart.aspx?Provider=EODIntra&Code=WMH&Si


Approaching 10 year low!

skinny - 25 Oct 2018 15:33 - 454 of 472

Chart.aspx?Provider=EODIntra&Code=WMH&Si

HARRYCAT - 31 Oct 2018 09:57 - 455 of 472

StockMarketWire.com
William Hill said it had agreed to acquire Sweden-based online gambling group Mr Green & Co for around SEK 2,819 million (£241.8m).

The UK gambling group had offered SEK 69 in cash per Mr Green share, representing a 48.5% premium to their closing price on Tuesday.

Mr Green's board had recommended its shareholders accept the bid.

'This proposed acquisition accelerates the diversification of William Hill - immediately making us a more digital and more international business,' chief executive Philip Bowcock said.

'Mr Green will provide William Hill with an international hub in Malta with market entry expertise and strong growth momentum in a number of European countries.'

'William Hill will move from a single brand to a suite of brands that can maximise growth opportunities moving forward in new and existing markets.'

HARRYCAT - 01 Nov 2018 21:28 - 456 of 472

Credit Suisse today reaffirms its outperform investment rating on William Hill PLC (LON:WMH) and raised its price target to 275p (from 260p).

Barclays Capital today reaffirms its overweight investment rating on William Hill PLC (LON:WMH) and raised its price target to 304p (from 300p).

Peel Hunt today reaffirms its add investment rating on William Hill PLC (LON:WMH) and cut its price target to 250p (from 305p).

UBS today upgrades its investment rating on William Hill PLC (LON:WMH) to buy (from neutral) and cut its price target to 300p (from 330p).

HARRYCAT - 06 Nov 2018 09:51 - 457 of 472

StockMarketWire.com
Gambling company William Hill warned on profits after it was hurt by weak horseracing margins, customer-friendly football results and challenging conditions on the high street.

Full-year operating profit was expected to come in at between £225m to £245m, assuming normalised gross win margins in the remaining weeks of the year.

William Hill said it had benefited from the later stages of the World Cup, but otherwise football and racing margins had been weaker than expected.

'Retail continues to be challenged by the wider high street conditions and we have seen gaming as well as sportsbook revenues decline in the period,' the company said.

Online net revenue in the year-to-date rose 4%, but retail net revenue fell 4%.

The company's existing US business delivered 'strong' growth in Nevada, with net revenue up 36% in local currency.

As for its US expansion, William Hill said it generated 'good' volumes in early months, with around $200m wagered, in line with its expectations.

Chief executive Philip Bowcock said adverse regulatory and tax changes would impact online profit growth in 2018 and 2019.

The gross effect of these would reduce profit by £20m in 2018 and a further £25m in 2019.

'We are continuing to experience a period of significant change for our industry and have already made important changes over the last two years to transform our digital business, broaden the management team and enhance our financial flexibility ahead of key regulatory changes,' Bowcock said.

Dil - 06 Nov 2018 18:42 - 458 of 472

I think those customer friendly football results refer to Cardiff losing every week.

Dil - 06 Nov 2018 18:44 - 459 of 472

And the World Cup was hardly customer friendly , with Brazil , Spain and Germany all doing badly.
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