Investment Activist Buys Major Stake In William Hill

Rumours of a sale of British Bookmaker William Hill have grown following the purchase of over 5% of its stock to US activist investor HG Vora Capital Management.

So far the activist investment firm has acquired 5.1% of the stock valued at £115 million, HG Vora and well known for its involvement in companies and then pushing for sales and mergers. Indeed the same activist company bought a 55 stake in Caesars Entertainment and pushed hard for that company to look for opportunities, as it turned out Caesars were acquired by Eldorado Resorts in a deal worth £13.6billion.

Even before HG Vora involved itself with Caesars it purchased a stake in both Penn National Gaming and Pinnacle Entertainment and following this both companies merged to create a much larger casino operator.

Interestingly Caesars and William Hill are partners in the US for sports betting products and William Hill has enjoyed great expansion in the US which is opening up state by state to sports betting.

HG Vora also has a major investment in Gamesys at 10% which is the owner of brands such as Jackpotjoy.

Gaming Analyst’s consider a merger or sale of William Hill to Caesars as a good move for both companies but at present both William Hill and HG Vora have not made any comment on the latest share deal.