Just when you thought our blogs on William Hill were all over! Unbelievably there has been another twist in what is turning out to be a torrid second half of the year for William Hill. As was widely published (and not denied by William Hill) William Hill’s Chairman, Gareth Davis, was expected to step down from his position.
However, William Hill have recently told Reuters that this is not the case. Stating, “There are no plans for Gareth to step down. He is leading the CEO search process, which is well advanced, and is working with Philip Bowcock to deliver the key priorities for the business.”
His potential departure was claimed to be one of the reasons for the recent collapse in merger talks between William Hill and Amaya. Making the fact that William Hill did not squash these rumours sooner all the more surprising.
Bookmakers have been under immense pressure in the last year. With tighter regulations, increasing taxes, and growing demand for online presence forcing many companies to join forces. This has resulted in alliances such as Betfair and Paddy Power and Ladbrokes and Gala Coral.
Yet, William Hill remains seemingly out in the cold, having failed to complete any successful mergers. The result on their market value has been significant, losing more than $1bn since the beginning of 2016. The last three months alone has seen the collapse of two deals, with 888 Holdings and Amaya.
For Matched Bettors, this continuing saga is quickly becoming an unfunny one. A weak William Hill is something no one wants to see. It will result in a drop in quality with regards to Reload offers. Which given William Hills long standing record of outspoken support (at least externally) of Matched Betting, would be a blow for all of us.
Let’s hope they can turn their fortunes around!