William Hill owner 888 to ramp up cost-savings
The gambling company that bought William Hill's high street shops earlier this year has ramped up its plans to slash costs.
888saiditwilltrytofindsynergiesfromthedealwithwilliam Hill of around £150 million – up by around £50m since its previous announcement.
It will also speed up the synergies – hoping to save around £87m in operating costs in 2023 alone. It had previously planned to save around £54m.
The business did not say whether it aims to save costs
by cutting jobs or closing betting shops in the UK, or give any other details about its plans.
This summer, 888 completed its nearly £2 billion deal for William Hill's international assets, which included around 1,400 betting shops across the UK.
But market conditions have changed since then, the company said.
The company said that, after combining with William Hill, it has "world-class brands" but that its many businesses often compete with each other.