March 16, 2020 / 3:31 PM / 25 days ago

BRIEF-William Hill Says COVID-19-related Sports Disruptions May Hit 2020 Profits

March 16 (Reuters) - William Hill PLC:

* WILLIAM HILL PLC - COVID-19 UPDATE; DIVIDEND SUSPENDED

* WILLIAM HILL PLC - ANTICIPATE A MATERIAL IMPACT TO GROUP’S REVENUE AND EARNINGS IN 2020.

* WILLIAM HILL PLC - 53% OF OUR 2019 REVENUE WAS GENERATED THROUGH OUR SPORTS BOOK BUSINESS.

* WILLIAM HILL - IT IS TOO SOON TO ACCURATELY DETERMINE EFFECT OF COVID-19 WE HAVE CONSIDERED A NUMBER OF POSSIBLE OUTCOMES

* WILLIAM HILL PLC - EBITDA FOR GROUP IS EXPECTED TO REDUCE BY £100M TO £110M

* WILLIAM HILL - AN ADDITIONAL MONTH OF CLOSURE IMPACTS EBITDA BY £25M TO £30M

* WILLIAM HILL- HAVE UNDRAWN COMMITTED REVOLVING CREDIT FACILITY OF £425M, WORKING CLOSELY WITH BANKING PARTNERS TO ENHANCE LIQUIDITY POSITION

* WILLIAM HILL - PRIOR TO RECENT CESSATION OF SPORTING EVENTS, TRADING IN QUARTER WAS AHEAD OF EXPECTATIONS

* WILLIAM HILL - IMPLEMENTED NUMBER OF MEASURES TO ENSURE NORMAL OPERATIONS, INVOKING BUSINESS CONTINUITY PLANS WHERE APPROPRIATE Source text for Eikon: Further company coverage:

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