March 16, 2020 / 3:46 PM / 2 months ago

William Hill suspends dividend, expects over $135 million hit from coronavirus

(Reuters) - British bookmaker William Hill (WMH.L) on Monday suspended its dividend and said its full-year core earnings may fall by up to 110 million pounds ($135.43 million) as several global sports events get canceled due to the coronavirus pandemic.

The company, which in 2019 generated 53% of its revenue through its sports book business, said an additional month of closure could hit its core earnings by another 25 million pounds to 30 million pounds.

Assumptions which could hurt its profit include postponement of the UEFA Euro 2020 to 2021, resumption of international football in August, and cancellation of the Grand National, among others.

Reporting by Tanishaa Nadkar in Bengaluru; editing by Uttaresh.V

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