William Hill (bookmaker)
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|
| Public | |
| Traded as | : |
| Industry | Gambling |
| Founded | 1934 |
| Headquarters |
Wood Green, London, UK Leeds, UK |
|
Key people
|
Gareth Davies (Chairman of the board), Philip Bowcock (Chief Executive Officer) |
| Products | Bookmaking, betting shops, online gambling |
| Revenue | £1,590.9 million (2015) |
| £283.3 million (2015) | |
| Profit | £189.9 million (2015) |
|
Number of employees
|
16,000 (2016) |
| Website | www.williamhill.com |
William Hill plc is a bookmaker based in the United Kingdom and is listed on the .
The company was founded by William Hill in 1934 at a time when gambling was illegal in Britain. It changed hands many times, being acquired by Sears Holdings in 1971, then by Grand Metropolitan in 1988, then by Brent Walker in 1989.
In September 1996, Brent Walker recouped £117m of the £685m it had paid for William Hill when Grand Metropolitan were found to have exaggerated the company's profits at the time of the sale.
Japanese investment bank Nomura mounted a £700m leveraged buyout of William Hill in 1997, when Brent Walker collapsed with debts exceeding £1.3bn after an investigation by the Serious Fraud Office which saw two directors given prison sentences.
In February 1999, a proposed flotation was abandoned due to "weak interest" and Nomura offloaded the company to funds managed by private equity firms Cinven and CVC Capital Partners for £825m instead.
The company was eventually listed on the in 2002. The following year Chief Executive David Harding was awarded a £2.84m bonus, making him the UK's fifth highest paid company director in 2003.
It acquired Sunderland Greyhound Stadium in 2002 and Newcastle Greyhound Stadium in 2003.
In June 2004, Chief Executive David Harding sold £5.2m of shares to fund his divorce, precipitating a decline in the company's stock that wiped £75m off the value of the company.
In 2005, William Hill bought 624 betting offices in the UK, Republic of Ireland, Isle of Man and Jersey from Stanley Leisure for £504 million: the acquisition briefly took the company past Ladbrokes into first position in the UK betting market in terms of shops but not revenue. The Office of Fair Trading made William Hill sell 78 of the 624 Stanley shops due to concerns over anti-competitive practices.
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Wikipedia