William Hill Shares Up 1000% - Still Below 2018 Highs
On the morning of 19 March 2020 shares in the William Hill Organisation were trading at 30p. They have since rallied 1000 percent higher. The Done brothers' who bought at the lows and hold 63.1m shares in the company are once again quids in. It was always a given that the potential upside from their ventures in to the US Betting Market space meant that the listed UK gambling companies would be able to generate idiosyncratic growth in excess of the headwinds impacting the broader global economy and that this would make them potential takeover targets for US casino outfits wanting to enter the sports betting arena.
Lest anybody should be getting too carried away it is important to remember that gambling stocks have represented something of a car crash for long term investors and that they still remain below their 2018 all-time US BETTING MARKET MANIA highs. There is also the small fact that Caesars Entertainment, which has confirmed it is in advanced discussions with William Hill, have valued the company at £2.9bn, which equates to only 272p per share - well below the company's closing price on Friday, meaning that those that steamed in on the news of a bid are going to be nursing significant losses on Monday morning.
Current Price V. 2018 High
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