Betfred Owner Purchases 3% Stake In William Hill

[image credit : William Hill]

Done Brothers (Cash Betting) Ltd, owner of gambling operator Betfred, has acquired a 3% stake in William Hill for an undisclosed sum.

William Hill confirmed in market update that Betfred purchased 874,189,537 shares, which represents 3.03% of the group.

When contacted about the share acquisition by iGB, neither William Hill nor Betfred commented on the purchase.

The announcement comes after William Hill last month posted a loss of £32.7m  (€37.6m/$43.0m) for 2019, primarily due to efforts to mitigate the effects of the £2 fixed odds betting terminal (FOBT) stake cap.

Shortly after publishing the results, William Hill has set out how it plans to grow into a “digitally led, internationally diverse business of scale”, with a focus on growing revenue, improving operational efficiency and scale, underpinned by a competitive customer offering and agile team.

bitcoin
Bitcoin (BTC) $ 29,265.00 3.07%
ethereum
Ethereum (ETH) $ 1,963.42 2.67%
tether
Tether (USDT) $ 1.00 0.26%
usd-coin
USD Coin (USDC) $ 1.00 0.17%
bnb
BNB (BNB) $ 302.52 1.51%
xrp
XRP (XRP) $ 0.411763 3.64%
binance-usd
Binance USD (BUSD) $ 1.00 0.41%
cardano
Cardano (ADA) $ 0.518196 2.52%
solana
Solana (SOL) $ 49.89 4.25%
dogecoin
Dogecoin (DOGE) $ 0.084424 2.68%
S&P 500  ^GSPC 
$3,901.36  $0.5700  (0.01%)
Dow Jones Industrial Average  ^DJI 
$31,261.90  $8.77  (0.03%)
NASDAQ Composite  ^IXIC 
$11,354.62  $33.88  (-0.30%)
Russell 2000  ^RUT 
$1,773.27  $2.96  (-0.17%)
Crude Oil Jun 22  F*CL.NYM 
$110.35  $0.4600  (0.42%)
   
$0.0000  $0.0000  (0.00%)