Hedgefunds Parvus wants to sell William Hill

Hedgefunds Parvus wants to sell William Hill

If it were about the beautiful topic of love and flirtation, would probably be in a comparable case, as it has been around a year ago with the bookmaker and online casino provider William Hill and its admirers, it is said that the advertised clearly unclear signals over a Possible future union. While the two giants 888holdings and the Rank Group, who co-founded William Hill with two mergers to form a true online gambling giant, were the first to win a takeover offer from the Canadian owner of Pokerstars and Full Tilt Poker, the Amaya Gaming Group on. In both cases, however, no agreement was reached. The three-way merger with 888holdings and the Rank Group was classified as too risky, and the Executive Board was significantly short of the target price of 3.64 pounds per share, equivalent to a total value of around 4.2 billion pounds sterling . On the other hand, the largest individual shareholder of William Hill, the Hedge funds Parvus, made a dash through the bill, which showed no interest whatsoever to even think about a sale to the Canadians even for a second. Now, after a few months have gone into the country, the balance of the online casino provider does not look exactly rosy, and also new regulations for the gambling market in the UK are in the room, Parvus seems to have decided to make William Hill possible A lucrative marriage with another leading online casino or another great bookmaker to maneuver.(Source: thetimes.co.uk)

Perhaps some investors are likely to look back with wet eyes at the 888holdings and the Rank Group’s long-standing offer, since the then offered price of 3.64 pounds would not pay more today. Since the sales rumors in the middle of last year, the price of the William Hill stock has crashed and the paper is now only trading at 2.64 pounds.

Bad numbers and possible changes in the law make Parvus nervous

With its approximately 14.3 percent of shares in William Hill, Hedgefunds Parvus is not only the largest shareholder of the online casino operator, but also has by far the largest voting weight within the company and so nothing goes without their approval. While it looked as if Parvus was not interested in any William Hill takeover by competitors, and even publicly criticized the board of directors of the bookmaker for the flirtation with Amaya, a 180 ° turn seems to have begun be. Possibly, the largest owner of shares still believed by the end of last year that William Hill would still manage the turnaround in his business areas, but the latest financial updates also showed that this is not really fundamental. The share price slipping further and further into the cellar, which not only makes the company more competitive by the competitors, but also reduces the potential profits for investors from a sale of the securities, to the extent that sales are constantly below their own expectations And gains, plus the possible changes in gambling legislation in the UK, seem to become a hedge for the hedge fund, where it seems advisable to sell William Hill. Just a few days ago, the great British daily newspaper Sunday Times, which Parvus wants to sell now and the first prospective customers are already in touch with.

William Hill, the owner of online casinos and provider of sports betting, has been struggling for over a year with massive problems in his entire online gambling business, which is lagging far behind self-declared expectations.

A new opportunity for the 888holdings

In the chef days of the 888holdings, which are not only very well placed in the field of sports betting, but also one of the best online casinos, the news of a rethinking on the part of Parvus in the case of William Hill may have been extremely well received. Although the merger plans were merged with the Rank Group and the bookmaker, they were put on hold after the two cancellations, but they have not disappeared from the drawers. Finally, both William Hill, and the 888holdings sneak around for a few years, like the cats around the food bowl. Everyone tried several times to take over the rival, but so far without success. This could change this year, because falling stock prices are always a risk, but still to be swallowed up and forever the investors will not be watching the tragedy. In addition to the 888holdings, a second hot takeover candidate, the GVC Group, is also traded. With the takeover of bwin.party with its strong brands bwin and PartyCasino a little over a year and a half ago, the company had once demonstrated that it could also take over a significantly larger rival. Anyone who will eventually win the bid for a purchase or a merger with William Hill, one thing is for sure, a lot has to be done to get these old veterans of the online gambling industry back on track.