William Hill Plans Flotation
By nisha
The UKs second largest bookmaker, William Hill has announced today that it is preparing itself for a stock market flotation next year. 2002 has been pinpointed as a favorable time due to the British Chancellor, Gordon Browns decision to abolish betting tax at the last budget and replace it with a 15 tax on bookmaker gross profits, will take effect in January of next year. The publication of a note by ABN Amro in March predicted that the change could lead to industry profits rising by 60% in 2002-3 on a feasible revenue uplift scenario of 30 percent.
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