StockMarketWire.com - Gambling company William Hill swung to deep annual loss after it recorded a huge write-down related tighter fixed-odd betting terminal regulations, while also experiencing more subdued high street trading.

Pre-tax losses amounted to £721.9m, swinging from profits of £146.5m on-year, and included the £882.8m non-cash impairment already announced at the half year.

Adjusted pre-tax profit fell 16% to £200.2m, while adjusted operating profit fell 15% to £233.6m, in line with company guidance of around £234m.

William Hill declared an annual dividend of 12p per share, down 9% on-year.

'We have started delivering on our strategy with the expansion of our US business, being first out of the blocks in all states that have regulated sports betting,' chief executive Philip Bowcock said.

Bowcock said the recent acquisition of Mr Green would support the build-out of the company's international digital business.

'We have also put our weight behind reducing the amount of TV gambling advertising seen by under 18s through a voluntary whistle-to-whistle advertising ban before the watershed,' he said.

'We know the next few years will require careful navigating and investment, but with a clear strategy and diverse, experienced leadership teams in place we are ready to capitalise on the opportunities available to us.'








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