|The Times business pages have reported today that William Hill is the best bet among bookmakers on the Stock Exchange, as its shares closed at their best level since the company was floated in 2002. One leading stockbroker called the company the best ‘pure play’ of all British Bookies.|
It seems that proposed deregulation has been kind to William Hill, and the Government’s green light to in house fixed odds terminals, as well as increased revenue from Internet and telephone betting, has been very good for business. Investors have been busily buying into the sector ahead of April 8, when the joint committee overseeing the draft gambling Bill on gaming deregulation will report its findings. The Times suggests that William Hill benefit most from any delay on deregulation.
The Swiss broker has upgraded William Hill from neutral to buy with a 545p target, against 470p previously. The shares, floated at 225p, gained 22¾p to 466½p, with the FTSE 250 up 22.1 points at 6,297.7.