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William Hill Plans to Raise £350m for Debt Reduction

Tuesday, February 24, 2009

LONDON, England -- As reported by the Daily Telegraph: "William Hill, the bookmaker, plans to raise £350m in a rights issue and scrap its dividend, as part of a plan to reduce its £1.2bn
  debt burden.

"The company is expected to announce the fundraising proposal, thought to be fully underwritten by its advisers and brokers Citigroup, when it publishes its full-year results on Friday.

"William Hill is one of a growing number of companies opting for a rights issue, despite healthy trading and no imminent repayments approaching.

"...However, concerns about rising unemployment could dampen bullish attitudes towards the betting industry, which is known to weaken when joblessness rises among its customer base..."

 

William Hill
7th floor Milton House
Charter Row
Sheffield SI 3F2
United Kingdom
Phone: +44 (0) 870-600-0479
Website: vegas.williamhill.com
Founded in 1934, William Hill is one of the best-known names in the gambling industry, providing gaming and betting services across three channels: online, on the high street and on the phone. Key facts about William Hill Online: -In October 2008, they established William Hill Online, the leading European online gaming and sports betting business -The online Sportsbook serves customers from over 175 countries, offering six languages and 11 currencies -In 2007, they took online bets from 169 countries for over 60,000 events (350,000 markets) and over 30 sports -William Hill gaming websites offer casino, poker, bingo and skill games
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