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Betfred Buys 3% Stake in William Hill

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5 years ago

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Betfred engages Future Anthem to provide additional personalised experiences for their players and to optimise its gaming channel
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In an interesting and significant development, Fred Done, the owner of Betfred, has purchased a 3.03% stake in its competitor William Hill.

“I’ve bought Hills shares because they are massively undervalued and in my opinion when it comes to the US they are front-runners,” Fred Done said.

He did not reveal whether he had plans to increase his stake in William Hill.

Following the stake purchase, shares in William Hill climbed one point. In 2019, William Hill US handled $2.9bn of gross amounts wagered, 55% of which was placed through online channels.

The operator has reportedly handled one in four bets across the USA, having gone live in 9 of the 14 states which have legalised sports betting.

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Niji Narayan has been in the writing industry for well over a decade or so. He prides himself as one of the few survivors left in the world who have actually mastered the impossible art of copy editing. Niji graduated in Physics and obtained his Master’s degree in Communication and Journalism. He has always interested in sports writing and travel writing. He has written for numerous websites and his in-depth analytical articles top sports magazines like Cricket Today and Sports Today. He reports gaming industry headlines from all around the globe.

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