SBC News William Hill governance to present 'strategic update' on reversing digital decline

William Hill governance to present ‘strategic update’ on reversing digital decline

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City analysts and industry commentators are eagerly awaiting William Hill’s half-year 2016 results on Friday 5 August, with company governance expected to present a strategic update focusing on reversing the firm’s declining digital performance.

A tough 2016, which saw the operator issue a profit warning in Q1 burdened by higher industry taxes and an 11% net revenue decline in its digital division. William Hill governance will hope to sooth investor concerns amid a £2 billion takeover proposal by a Rank Group and 888 Holdings consortium.

The H1 presentation will be delivered by CFO Philip Bowcock who has taken on the interim leadership of the operator since the departure of CEO James Henderson last month.

In June William Hill governance approached KPMG’s consultancy arm to carry a strategic review of its digital division and technology operations. The company is reported to have suffered from a poor integration of its proprietary platform ‘Project Trafalgar,’ which aimed to extend the firm’s in-house development capabilities.

Seeking to turnaround its digital performance, William Hill has appointed Crispin Nieboer as Managing Director of William Hill online.

In a recent corporate update, William Hill Chairman Gareth Davis stated that the company had the capabilities and strategy to turnaround performance, which had ‘not met the boards expectations’.

Regarding its H1 results, industry analysts will await to see what impact the Euro 2016 championships will have on the bookmaker’s results, as William Hill targets £260 million in full-year earnings.

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