Silchester International Investors take stake in William Hill
August 21, 2017 9:34 AM
by Robert Mann
One of London’s most successful hedge funds has taken a stake in the international bookmaking giant William Hill. William Hill operates around the world including more than 100 sports wagering outlets in Nevada.
Mayfair-based Silchester International Investors now owns 5 percent of the company stock, reports The Telegraph in London.
Silchester is now the fourth largest institutional investor in the bookmaker and usually focuses on traditional long-term investments in stocks, believing shares in a company will rise, according to The Telegraph.
William Hill, according to The Telegraph, has been under pressure from diminished profits, the rejection of two potential mergers and the resignation last year of its chief executive after just two years on the job.
Industry observers say investor sentiment towards the gambling industry in Great Britain remains unsettled because of a triennial review by the government that could reduce betting limits on Fixed Odds Betting Terminals (FOBT), a profitable source of revenue in bookmaking shops.
The Department for Culture, Media and Sport has said it is planning on releasing its findings on the FOBT in October.