William Hill to Exit Israel

Sun, Jul 2, 2017

UK bookmaker William Hill will close its online operations in Israel and lay off more than 200 of the company’s 250 employees in Tel Aviv. A company official said the bookmaker is focusing on European operations, but analysts point to the rising costs of doing business in Israel due to the rise in value of the country’s currency and high real estate and employment costs.

William Hill plans to close its Tel Aviv offices and leave the Israeli online market, according to a report at Leaprate.com.

The company plans to lay off about 200 employees and close its offices in the Azrieli Towers in Tel Aviv. The company began operations in Israel in 2008.

The website iGamingplayer.com quoted a statement from the bookmaker saying the move will focus on European hubs and its core UK market.

‘A number of colleagues in the Tel Aviv operation will be offered relocation packages to William Hill in London, Gibraltar and Krakow,” the website quoted the statement as saying. “William Hill currently has offices in Wood Green and Shoreditch and will establish a new central London office hub later this year combining its current Shoreditch operation and functions formerly located in Tel Aviv. “

Though Israel is also considered a gambling hub, analysts pointed to the increasing value of the Israeli Shekel plus high real estate costs and low unemployment in Israel as factors that increase the cost of doing business in the country. William Hill has also been hurt by a lucky streak for players betting on recent soccer matches.

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