The decision mainly reflects the company’s recent underperformance in online betting, Davis said. William Hill launched a new web platform and mobile application last year, though ran into difficulties that led to a slowdown in betting growth. The company cut profit guidance in March after new rules made it easier for online gamblers to take a breather from their wagers.
“Online is such a huge bellwether and as market leader we have high expectations,” Davis said. “We have stalled abruptly and lost share significantly in the last year or so."