William Hill to Close Retail Betting Shops in Ireland

William Hill (LON:WMH) is to close a number of betting shops in the Republic of Ireland. As one of the largest and most successful gambling and online fruit machine operators in the world, approximately 16,600 people are employed by William Hill, and currently the company has 2,300+ licensed betting shops in the UK. Headquartered in the Republic of Ireland, the company has operated successfully for many years. Recently they moved some of their administrative offices to Gibraltar, but they still have a strong presence in Ireland.

Because of William Hill’s success in the gambling industry, its mid-December announcement shocked many people, and surprised even those savvy to the company’s financials. The announcement made to the press by company spokespeople explained that approximately 20 stores were to be closed in the next year, all in Ireland. The specific stores have yet to be chosen, and William Hill says it will spend about 2 months researching the worst-performing shops in Ireland, and those stores will get the axe. The spokesperson continued by saying that, though some employees might be affected by the closures, the company’s intent was NOT to fire people. It was stated that William Hill would do everything in its power to keep the roughly 85 employees who would be affected by this change employed.

Though William Hill’s overall history is good, this is not the first setback it’s seen. In 2009, it closed 14 retail wagering shops in Ireland, which cost the company an estimated €2.8m. 2010 saw slightly better revenues, but it was still a slow year for the company in both its online gambling empire and its army of retail betting shops. The company has made a number of other blunders, some minor, some which cost them millions. The owners of William Hill say that they will do everything in their power this year to improve the company’s standing, and hopefully weed through the unprofitable shops and eliminate or change them.