William Hill’s online and retail exposure in the US should dramatically increase when Eldorado Resorts finalizes its takeover of Caesars Entertainment due to a long-standing agreement the British firm has with Eldorado<\/strong>.<\/p>\nHow to Earn an Upgrade<\/h2>\n
With a credit rating deep into junk territory, William Hill faces higher financing costs than an investment-grade company, meaning there’s ample motivation for the operator to reduce leverage and position itself for an upgrade.<\/p>\n
It’s a difficult, though not impossible task. Moody’s notes William Hill could realize ratings stability as more marquee sports return, giving bettors a larger menu to consider. In the US, the NBA, NHL, and Major League Baseball (MLB) are scheduled to resume and commence play this month.<\/strong><\/p>\n\u201cUpward pressure on the ratings could occur if the company continues to diversify and increase its revenues outside the UK, and if (1) Moody’s adjusted debt to EBITDA ratio is maintained sustainably below 3.5x; (2) Moody’s adjusted retained cash flow to debt stays well above 10%, and; (3) the company generates consistent meaningful free cash flow,\u201d said the ratings agency.<\/p>\n","protected":false},"excerpt":{"rendered":"
William Hill Plc (OTC:WIMHY), one of the largest UK-based bookmakers, was confirmed with a credit rating of Ba3 and a \u201cnegative\u201d outlook by Moody’s Investors Service following the research firm’s periodic review of the gaming company’s financials. Bonds with one of the three Ba ratings have \u201cspeculative elements and are subject to substantial credit risk,\u201d […]<\/p>\n","protected":false},"author":46,"featured_media":140692,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[10,1074],"tags":[],"acf":[],"yoast_head":"\n
William Hill Retains Junk Credit Rating, Opportunity Awaits in US<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n