All online operations in Israel will soon be shut down by bookmaker William Hill; this isn’t good news for anybody around the industry. This will also lead to the majority of William Hills 250 employees that are based in Tel Aviv to lose their jobs. Although this is something we expected it’s still not good for everybody whos going to be without a job, the bookmaker will also leave their offices at the Azreili towers.
When commenting on the transition William Hills Spokesman said “Our colleagues in Tel Aviv have made an excellent contribution to the success of William Hill Online and we are grateful for their hard work over the years. London, Leeds, Gibraltar and Krakow are already important hubs for William Hill and by locating more of our digital operations in Europe we will work smarter and more efficiently.”
Importantly it will mean we can further improve Williamhill.com and be even more responsive to customers particularly in the 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. William Hill currently have 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. ”
Although Israel is still a hub for the online gambling industry there have been a couple of changing factors in recent years which have made operations there much more expensive. The Shekel has recently gone up in value as has the cost of real estate. This leads to a lot more money being spent in the long run and is probably one of the reasons that William Hill have decided to leave the country. This also wasn’t helped by the fact that the bookmaker recently been let down by some of the results which has led to more payouts.
Numis Securities analyst Richard Stubber said earlier this week that William Hill hasn’t had the best start to the year when it comes to footballing results. He continued to say “coupled with additional central costs, we are therefore cutting our FY17 EBIT by £29m (10%) to £251m, which is 8% below consensus. Furthermore, there are already headwinds building for FY18; as well as new likely rules on FOBT stakes, the CMA is focusing on on-line practices, and Australia has proposed the banning of credit betting (c.30% of amounts wagered).”
It is hard to say if the results will start to go there way but we hope that William Hill don’t run into any more trouble. Thank you for reading and for all the latest news and offers from around the gambling world make sure to check back on a regular basis.