Gamblers taking a break from their accounts has hurt profits for William Hill and the bookmaker said that profit for the year will be below analysts’ estimates.
The company pointed to a “marked acceleration” in the number of accounts being suspended at the holder’s request. Losses incurred at the Cheltenham horse-racing festival are also contributing to the projected earnings shortfall.
The U.K. Gambling Commission has required online gaming companies to let gamblers exclude themselves from their account via the website, rather than having to contact a call center. Timeouts have increased 50 percent since the start of the year, with about 3,000 accounts a week being affected, Chief Executive Officer James Henderson said at a conference call with reporters.
The suspended accounts have so far cut profit by about 2 million pounds ($2.8 million), Henderson said, though the bookmaker expects them to reduce earnings for the year by as much as 25 million pounds.
