26th of October 2018 Author: Alex Hoffmann
Leading bookmakers and horseracing giants, William Hill, are terminating their services in the betting ring, after the announcement about selling 82 racetrack pitches joined the latest headlines. The on-course pitches will be sold to a company that bets under the Sid Hooper flag.
Titan of The Racecourse:
Hills represents a company with one of the longest racing traditions in Britain, spending almost 80 years on the market. According to the trading director, the reason behind this sudden decision is entirely strategic, since the main focus will be directed towards maximizing returns from 41 stables and racetrack shops.
Hill's reputation surpassed all records during the World War II era since he dominated the betting rings precisely between 1941-55. As has been noted, the sale of 82 bookmaking businesses is estimated at a price of approximately £2 million.
Comments On The Purchase:
Terry Pattinson, trading director at William Hill said that the company has finally reviewed whether its rails operation makes commercial sense and commented:
"Our focus now is to provide on-course customers with a full retail experience on the racecourse, so it makes sense to move away from our rails operation, hence, we have agreed a sale with Racecourse Pitches Ltd. We wish them the best of luck with their new expanded operations."
Hill was widely considered one of the greatest bookmakers back in the 1930s and beyond. He died in 1971 from heart failure while staying at the Rutland hotel in Newmarket. Here's what the director of Sid Hooper commented on the deal:
"We have been looking for expansion opportunities for some time and we are thrilled to have acquired the William Hill on-course portfolio of pitches."
Betting Lounge At Prudential Center:
Despite the recent announcement to sell racecourse pitches, the operator has been active in North America, as it signed a deal with the National Hockey League's New Jersey Devils. The agreement includes a sports lounge at the team's home arena - Prudential Center in Newark.
Pursuant to the source, the sportsbook will resemble a traditional betting house with lots of TVs, streaming services and boards displaying odds on various games. Actual betting windows will not be included but the representatives will assist visitors through the process of downloading mobile betting apps and more.
Source: "William Hill leave the betting ring after selling 82 racecourse pitches". Racing Post. October 22, 2018.
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