Investor glossary

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A

ABB
Association of British Bookmakers, the leading trade association representing high street (off course) bookmakers in Great Britain.

B

BAGS
Bookmakers Afternoon Greyhound Services Limited, a not-for- profit company set up by various bookmakers, including William Hill.

C

Company
William Hill PLC

Current asset
An asset that will normally be turned into cash within a year.

Current liability
A liability that will normally be repaid within a year.

D

Depreciation
The reduction in the book or market value of an asset, or the portion of an investment that can be deducted from taxable income.

DCMS
Department of Culture, Media and Sport

Dividend
The payment by a company to its shareholders.

Dividend yield
The annual dividend per share divided by the price per share.

E

EBIT
Earnings before interest and tax.

EBITDA
Earnings before interest, tax, depreciation and amortisation.

EPS
Earnings per share. This is calculated by dividing the profit (or underlying earnings) by the weighted average number of shares in issue.

Exceptional items
The in/out flow of cash on a one-off basis.

Ex-dividend
The purchase of shares in which the buyer is not entitled to the forthcoming dividend.

G

Gambling Act
Legislation passed in 2005 regarding the modernisation of the laws relating to betting and gaming within the UK.

Gambling Commission
The Gambling Commission for Great Britain, the regulatory body for casinos, bingo clubs, gaming
machines, betting, remote gambling and larger lotteries (including all local lotteries but excluding the National Lottery).

Gross profit tax (GPT)
Introduced in October 2001, this is a duty charged by the UK Government of 15% of a bookmaker's gross win.

Gross win
Total customer stakes less customer winnings.

H

Horse racing levy
A levy attributable to bets taken on horse racing and payable to the Horserace Betting Levy Board, primarily for the purpose of augmenting the prize money available for winning horses and providing certain racecourse amenities.

L

LBO
Licensed betting office.

M

Market capitalisation
The number of shares in issue multiplied by the share price.

P

Price / earnings (P/E) ratio
The share price divided by earnings per share.

R

RGA

Remote Gambling Association: represents remote gambling companies and provides the industry with a single voice on all issues of importance to regulators, legislators and key decision makers around the world.

Retained earnings
Earnings not paid out as dividends.

Sportsbook
Bets accepted on sporting and other events.

W

William Hill or the Group

Registered Office: Greenside House, 50 Station Road, Wood Green, London N22 7TP.
Registration Number 4212563 England