Just after lunchtime on Friday, an announcement sent William Hill’s share price off at a gallop. The FTSE 250 bookmaker confirmed a Bloomberg report and said it was on the receiving end of not just one but two bids.
It was rocket fuel for the stock, which eventually ended the day at 312p — 43% higher on the day and back to where it was in mid-2018.
The bidders — Caesars Entertainment, owner of Caesars Palace in Las Vegas, and private equity firm Apollo — are not so interested in the chain of shops on UK high streets. The £2 limit on fixed-odds betting terminals, cut from £100, led to the closure of 700 William Hill stores, and other rules have also been tightened. Gambling