William Hill Shares Sent Spiraling After Bookies Loses Millions
A series of Premiere League favorites winning this past weekend has cost bookmakers - including the UK’s largest, William Hill – millions of dollars.
William Hill inadvertently released its early year report to analysts stating it was a “difficult start to the new year with highly unfavourable football results in week three”.
Only Manchester, defeated by Arsenal, failed among the top sides.
The second week in January last year offered similar Premiere League results with Hill losing more than £13 million for the week.
The stock fell 13.25p to 363.35p or 3 percent lower on the day’s trading. It had traded down 4.9% on midday trading.
It wasn't all bad news for William Hill by day's end as Credit Suisse reiterated their "outperform" rating in a research note issued Tuesday.
The firm currently has a GBX 455 ($6.89) price target on the stock.
- Aaron Goldstein, Gambling911.com
