Is William Hill USA Online Betting Coming?
A Merrill Lynch upgrade gave William Hill its biggest gain in more than three months on Tuesday.
Once the UK review of betting terminals is out of the way, attention can turn to the potential liberalisation of sports betting in the US, where William Hill is market leader with a 55 per cent share in Nevada casinos, said Merrill.
New Jersey’s long-running campaign to legalise sports betting will probably receive a verdict next year while a dozen states already have contingent legislation in place, said Merrill. Citing a 1999 National Gambling Impact Study Commission report that estimated $380bn of illegal wagers annually in the US, the broker added: “Even if William Hill lost market share it could prove to be a very large driver of growth.”
In the meantime, William Hill’s shares already price in the worst-case scenario of a £2-per-spin cap on roulette machines, Merrill said. It put a 330p target on the stock, which rose 4.3 per cent to 272.1p.
Bryce Elder NOVEMBER 8, 2017 – The Financial Times
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