Horse racing media revenues likely to be hit as William Hill plans 700 store closures

Horse racing is likely to see a drop in its media revenues after William Hill announced plans to close around 700 betting shops in the UK before the end of the year.

The betting firm said legislation introduced in April limiting the maximum stakes on fixed-odds betting terminals (FOBTs) had led to a “significant fall” in gaming machine revenues and was the principle reason for the closures.