New Merger Rumors for William Hill

William Hill’s largest shareholder has been trying to spark new merger and acquisition talks over the past several months, The Sunday Times reported. Privately owned hedge fund Parvus Asset Management owns a 14.3% share in one of UK’s largest gambling operators.

The UK Government is set to publish a triennial review of the country’s gambling industry with particular focus on the highly controversial fixed-odds betting terminals. It is believed that new measures on how the machines are to be regulated will be introduced and these will certainly come as a big blow to the operator’s profitability. This is why it is not a surprise that William Hill, whose UK retail business is greatly dependent on the FOBTs, as well as its investors are looking for ways to prepare the company for whatever the future may be holding.

The major bookmaker has not had its most shiny times over the past several years. Its underperforming online division and bettor-friendly results at the 2016 Cheltenham Festival dragged the company’s full-year profit lower than originally expected.

William Hill’s name was involved in two potential merger and acquisition deals last year. In mid-2016 the company was presented with two offers to be acquired by 888 Holdings and the Rank Group. The bookmaker rejected both bids as it was not particularly content with the price offered.

More at Casino News Daily

Related Stories from This Week in Gambling:

  • William Hill and Amaya Talk Reverse Takeover The UK’s William Hill and Canada’s Amaya are in discussions that could lead to a £4.6bn all share merger to create one of the world’s largest gambling companies, as the groups become swept up in the wave of consolidation hitting the betting industry. On Saturday, the boards of the two […]
  • William Hill acquires Australia’s Tom Waterhouse From SBR Forum - British bookmaking giant William Hill (SBR rating A) has acquired the online betting business of TomWaterhouse.com for a reported $34 million. Tom Waterhouse will stay on as managing director and could line his pockets with up to $70 million more under the terms of the […]
  • Ladbrokes CFO Dumps Stock Before Gala Merger Ian Bull, chief financial officer of Ladbrokes, has opted to sell his stake in the UK bookmaker ahead of its proposed merger with rival gambling operator Gala Coral. As reported by iGaming Business, Ladbrokes and Gala Coral last month stated they were closing in on a deal that will lead […]