Betfred Acquires 3% of Shares of William Hill

Staff Writer Industry News, William Hill Casino 146

William Hill is expanding its US presence, and it seems that some companies want to be a part of that. Recently, Betfred announced that it had bought slightly over 3% of shares of William Hill.

Betfred’s owner Fred Done explained his decision by highlighting William Hill’s “front-runner” role in the US market.

Piece by Piece

The owner of Betfred, Fred Done, is now also the owner of 3.03% stakes in William Hill. Done, who owns and operates a massively popular operator Betfred, said that he thinks William Hill’s shares deserve more attention. According to him, the shares are undervalued, especially if we consider the influence of the company in the USA. 

For now, he will have only 3% of the shares, but his plans for the future remain unknown. Done did not disclose whether he plans to buy more shares in the prominent casino and sportsbook operator. Either way, it is good to have the shares rather than not.

Shares Jump

Right after Done finalized his acquisition, the shares of William Hill climbed 1%. Betfred’s interest in the company undoubtedly sparked interest with other companies that started realizing the importance of these shares. Furthermore, we will keep a close eye on the shares to see whether they’ll climb even further. The chances of that are quite high, as William Hill continues its US expansion strategy.

Last month, William Hill entered a deal with the US Grand Traverse. The operator then pledged to be the only provider for Grand Traverse brands and to launch a brand-new sportsbook. The US expansion is the natural step for William Hill that seeks to protect the company from potential losses in the UK.

The UKGC recently announced a ban on credit cards, that will undoubtedly impact everyone in the UK. Hence, William Hill’s US exploration could help it secure its future by moving the focus away from the native market.

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