William Hill has announced that 119 of its High Street betting shops in the UK will not reopen following the coronavirus lockdown. The company, which operates 1,500 outlets across the country, said it does not expect customer numbers to return to pre-pandemic levels.
Approximately 300 staff are affected by the closures, though most have been redeployed to other roles within the company. William Hill reported a pre-tax profit of £141 million for the first half of 2020, compared to a loss of £63 million in the same period last year. However, revenues fell by a third to £554 million due to the lockdown and the cancellation of many sporting events.
The company said it is repaying £24.5 million in UK furlough funds, citing a strong recovery in trading after the lockdown. Chief executive Ulrik Bengtsson praised staff for their efforts during the pandemic and noted the decision to repay the furlough money given the company's improved performance.
William Hill's presence on the High Street had already been declining; last year it cut 700 shops following new regulations that reduced the maximum stake on fixed-odds betting terminals from £100 to £2. The company now plans to expand further in the US, where gambling laws are being relaxed in some states, and reported that its international online business grew by 17%.
