5g88 William Hill Plc, one of the largest sportsbook operators, said there’s evidence of a strong recovery in betting markets as the sports calendar grows fuller and that the US region is topping internal estimates.
The UK-based bookmaker added that it’s planning a secondary offering equivalent to 19.99 percent “of its existing ordinary share capital.” New supply of shares coming to market dilutes current investors, and the news sent William Hill’s US-listed equity lower by about four percent at this writing. The stock trades over-the-counter in the US under the ticker “WIMHY.” Its London-listed shares under the identifier “WMH” closed higher by 0.62 percent today. The share sale and financial updates, which were revealed in separate statements, were released after the close of UK markets.
We expect the trading backdrop to remain uncertain, but are encouraged to see both Online and the US performing ahead of our initial expectations,” said the sportsbook firm in a statement.
In its home market, William Hill could get a near-term boost from the return of the Royal Ascot horse racing festival, which starts today and runs through the end of the week, and the English Premier League (EPL) on Wednesday.
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William Hill Recovery ‘Strong,’ US Topping Expectations, Company Unveils Massive Share Sale
