In the wake of a 15% slump in profits year-to-year, UK bookmaker William Hill has announced that they will be remodelling their high street provision across the nation. Expectations are that Will Hill won’t be alone in making such a move; the fixed odds betting terminals’ stake reduction looms for April, but bookmakers are already feeling the pinch, with customer footfall down across the board. Since the FOBT fallout began, Will Hill has been warning that they might be forced to close up to 900 stores across the UK.
The reason could have something to do with the increasingly poor image the gambling industry in the UK has, with major media emphasis of late on several recent customer diligence failings, and with the advertising glut still plaguing the public. Online gaming, as well, continues to eclipse the high street, offering much higher available stakes and a wider range of games than brick-and-mortar.
A spokesman for William Hill has said that they will not make any “knee-jerk closures,” however, explaining that various steps have already been taken to help preserve the viability of betting shops, including adding self-service play terminals and providing more action at lower stakes.
Meanwhile, the firm pushes forward with expansion in both the USA and Europe. This emphasis on its international presence seems a smart move at a time when prospects in the UK high street seem not just slim, but grim – grim enough, in fact, that some analysts are starting to think William Hill, previously as fiercely independent as its name suggests, is looking ripe for a takeover bid.
