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William Hill revenue hit by sports events cancellations, shop closures

15th May, 06:48

(Reuters) - William Hill on Friday posted a 57% plunge in total net revenue for the weeks since coronavirus lockdowns were imposed in Europe and North America, as sports betting volumes collapsed and it was forced to close its retail network of betting shops.

The British bookmaker's online betting revenue fell 21% in the seven weeks to April 28 and it also pulled all future forecasts.

The gambling firm said it expects each additional month of shop closures to impact core earnings by up to 15 million pounds, about half of the initial estimate.

(Reporting by Tanishaa Nadkar in Bengaluru; Editing by Aditya Soni)