2016 wasn't the best year for UK gaming giants William Hill PLC as their 2016 trading update show that the group's profit was down by £30 Million from the previous year.
The struggle they had in their retail business effected their profits quite drastically last year. In fact, the total profit of the company is expected to be at the bottom end of the company's expectation with £260 Million, £30 Million less from last year.
The disastrous performance they had during the Cheltenham Festival last year did not help William Hill at all with constant profit warnings being issued through out!. Another negative aspect of last year was the failure to complete a merger agreements with betting giants Amaya that further plunged their profits further.
Quoting the company's statement which read: "Importantly, the improvements we saw in wagering online and Australia in the second half have continued in recent weeks. However, all four divisions saw customer-friendly results at the back end of the year, which translated into profits being £ 20 million below our prior expectations."
However, William Hill's management is still optimistic that 2017 will be a better year: "With key underlying trends continuing to be positive, the recent run of sporting results have not changed our confidence in a better performance in 2017."
