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William Hill looks to football, horseracing to ride out crisis

(Reuters) - William Hill said on Friday it is counting on the return of Germany’s Bundesliga and horseracing in the UK to turn the odds in its favour, and that it expects a lower hit to core earnings from coronavirus-led disruptions which have cancelled sports events and shut its betting shops. FILE PHOTO: Gamblers place bets on sports at Monmouth Park Sports Book by William Hill, shortly after the opening of the first day of legal betting on sports in Oceanport, New Jersey, U. S. , June 14, 2018. REUTERS/Mike SegarThe British bookmaker expects each additional month of shop closures to impact core earnings by up to 15 million pounds, about half of its initial estimate, assuming the continuation of government support for furloughed workers. The company also said its creditors had waived revolving credit facility covenants for 2020 and that it had reduced its cash burn to around 15 million pounds ($18.

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https://www.reuters.com/article/us-william-hill-outlook-idUSKBN22R0TS

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