William Hill pledges no more closures

WILLIAM HILL has no plans for any further closures within its dwindling Irish-based retail portfolio, the bookmaker has claimed.

The British gaming firm — which entered the Irish market in 2005 after its takeover of Stanley Racing — closed 14 shops in Ireland two years ago, with the loss of over 50 jobs, and subsequently put its remaining 35 under review. Last month, it closed another 20 under-performing outlets, leaving it with 15 shops in the Republic and 36 in the North.

According to a spokesperson for the company, which published its latest trading update yesterday, all remaining shops in Ireland are profitable and will stay open while they remain so.

The company said that it made a strong start to the year, on a group-wide basis, with operating profit up 21% on a year-on-year basis over the course of the first quarter. Net revenue was up 11%, driven by strong gains in both retail and online.

That first quarter performance has led management to express confidence for full-year growth.

“We have much to look forward to in the existing business and are also excited by the land-based opportunity in the US [where the company recently acquired two Nevada-based gaming firms] where we recently made our first significant investment,” said William Hill group chief executive, Ralph Topping.

The company — which has also just launched a dedicated Irish-focused website — is also set to re-enter the Italian market later this year, as well as looking at Spain and Germany. The firm has said international growth forms a key part of its overall growth strategy.