William Hill Share Discussion Threads

[spartan attack] 01/10/2020 11:35

Buying isnt lifting it a penny or two either though

So its the age old question on flat share price Who is right? The seller or the buyer of the sells?

[fletcher270] 01/10/2020 11:30

Well they keep on buying in WMH 100000 just gone through they won't be doing it for a penny or two increase in sp

[spartan attack] 01/10/2020 10:15

Got a feeling this is going to be a special weekend loool

[tomv33] 30/9/2020 23:16

People thinking an expected bid tomorrow maybe, with share price up in the last hour?

[oneillshaun] 30/9/2020 22:15

Plus Ulrik has around £3m in shares

[spartan attack] 30/9/2020 20:33

Doubt there will be any short building in the future either

[chopp1] 30/9/2020 20:31

Hardly any short positions currently.

[johnv] 30/9/2020 17:16

Jefferies says William Hill could be worth as much as 460p, or 80p
(Sharecast News) - Analysts at Jefferies laid out their scenario analysis for William Hill, the most 'bullish' of which could see the shares gain more than half in value to 460.0p.

Admittedly, their downside scenario could see them fall to just 80.0p.

The key to the bookie's success were its US operations, with Jefferies judging the firm to be "strategically well-positioned" to benefit from the multi-year, high growth opportunity in American sports betting and iGaming - which in turn merited a "premium" valuation.

"As more US states legalise, more quickly than we expected, the prize is substantial," the broker said.

"We estimate the US market will be worth some $19bn in net revenue by end 2023, equivalent to c$5bn EBITDA at maturity."

Jefferies's discounted cash flow estimate for William Hill yielded a 330.0p per share target price, assuming that only half of the US states actually legalised sports betting - a scenario the analysts themselves deemed "conservative".

If all States legalised then the target price would rise to 460.0p, they added.

Assume a market share equal to US rival DraftKings and that takes your implied valuation to 865.0p.

On the flip-side, if no bid were forthcoming and no material progress were made in the US, then the fair value estimate for the firm's shares would drop to 80.0p.

Not included in Jefferies's base case valuation was the opportunity in iGaming, although more states beyond New Jersey and Pennsylvania were expected to legalise it as they sought out tax revenues, nor a takeover premium to reflect its leading position.

"William Hill suffered material earning downgrades due to UK gaming machine regulation in 2019, with EBIT broadly halving. We are expecting a review of the 2005 Gambling Act in the UK to be announced in the next several weeks, focused on Online.

"We argue that any further regulation that potentially undermines online earnings would be outweighed by the re-rating upside from regulatory clarity."

[ceaside] 30/9/2020 16:56

Of course the board will recommend. The CEO and CFO (who are on the board) are guaranteed 200% of annual salaries payable by Ceasers once this completes, not bad for a year's worth of work. Who knows what other 'incentivisation' agreements are on the table for the rest

[smartie6] 30/9/2020 16:55

Anyone know what the current short position is?
Level building up?

[adeg] 30/9/2020 16:44

could be part of the JV contract that the board have to recommend any offer from Ceasers over certain % of the average share price.

The market certainly seems to think another larger offer is coming. Good to see that the Done brothers have not sold any of their holding and are still at 6%. RNS at 15:47 today.

[chopp1] 30/9/2020 15:42

There is something highly suspect about the WMH board recommending this offer as offering good value for shareholders. The majority of analysts agree that the US business alone is worth £3 at a minimum. Shareholders should reject this out of hand and not accept anything less than £3.50 which imho is still a good deal for Caesars. Are the board getting a nice backhander or the promise of multi million dollar salaries and bonuses under the new enlarged group if they help sell shareholders down the river?

[prettygreen] 30/9/2020 15:32

I note HG Vora were buying 8.5million more on 28/9 @ £2.77. They obviously think there's value here and likeliehood of other interested parties. Takeover still subject to shareholder vote regardless of the low ball offer from Caesers. You never come in initially with your final offer anyway do you ?

[tomv33] 30/9/2020 15:29

That's because a possibility of apollo or someone else giving a higher bid

[oohrogerpalmer] 30/9/2020 15:13

Don't understand why share price is above offer.
Had several shares over the years in companies that are taken over and in every one the share price was always 2 -5p below the offer price.
Markets are definitely edging bets towards another bid.

[tomv33] 30/9/2020 15:10

Can be another bid though, maybe

[coxsmn] 30/9/2020 15:09

Deal done £2.72 https://www.thisismoney.co.uk/money/markets/article-8788797/William-Hill-agrees-2-9bn-takeover-Caesars-Entertainment.html

[spartan attack] 30/9/2020 14:18

Being pro, so as you know

Can’t tell the boss to give it 10 years

This years bottom line all important looool

[spartan attack] 30/9/2020 14:17

Sure. Lot of funds out there got caught on the hop

Any with WMH in it must be doing a bit of damage relief adjustments lol

[tomv33] 30/9/2020 14:15

Portfolio damage?

[spartan attack] 30/9/2020 13:24

Portfolio affect will sway many too

Some books hit hard out there. 272 would repair a bit of portfolio damage

Hence getting booked now no doubt ...

[nico115] 30/9/2020 13:14

Once it's unconditional yes If it goes to the wire we will be weak but the UK holders are flakey and will accept this bid I'm gutted as I think this is worth 15qd