William Hill Shares Fall 16%

While William Hill shares have been pitted as the most lucrative shares to buy in 2021 by a number of UK analysts, shares in the gambling operator have declined to £1.32bn.

Year-on-year net revenue is reportedly down 16% for 2020. This came as a slight shock given the fact that William Hill reported a 9% revenue increase for the fourth quarter of the year. 

“2020 was a year like no other,” William Hill chief executive Ulrik Bengtsson said. “It tested our agility and flexibility and we delivered, keeping our customers and team safe, whilst materially improving our competitive position through product enhancements and geographical expansion.”

While William Hill received £24.5m of funds through the government’s furlough scheme in the first lockdown from March, this was repaid in full. 

The operator said it did not intend to take advantage of any more government support and that retail staff received 100% of their pay even on furlough.

The operator is set to publish its final results for the past year on 24 February.

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