UK bookmaker William Hill will name interim CEO Philip Bowcock as its permanent CEO according to a report in the Financial Times.
Bowcock became Interim CEO last year after former CEO was ousted in March as the bookmaker faced profit warnings. Bowcock has been with William Hill since 2015 starting as its Chief Financial Officer.
William Hill has had a difficult time since the profit warning and the announcement it would lower profit expectations last year due poor racing results and digital performance.
Further, recent reports say William Hill’s largest shareholder—hedge fund Parvus Asset Management—would support a sale of the bookmaker to an online gambling business. William Hill was named in two potential two merger and acquisition deals last year but both failed to be realized. Parvus figured in one of those deals proposed with Amaya Inc. by opposing the merger price.
In another matter, it was announced that William Hill’s Newcastle and Sunderland greyhound stadiums have been purchased by SIS.
According to a press release, data from the tracks will be added to SIS’ existing portfolio of rights from Monmore, Crayford, Hove, and Romford, ensuring they will able to continue to provide high quality greyhound racing to betting markets from tracks either owned or under direct contract to SIS.
“The acquisition of Newcastle and Sunderland is very exciting for us and our customers and strengthens our position as a distributor of high quality pictures and data for greyhound racing,” said Gary Smith, CEO of SIS. “Under William Hill’s ownership the facilities have been well maintained and the tracks have staged high quality competitive greyhound racing which has been popular with punters, both on and off track. SIS is committed to maintain and build upon the high standards that William Hill has set.”
Details of the sale were not released.
For more information on William Hill visit: http://www.williamhill.com/.
