Having reported a ‘record breaking’ revenue performance for its H1 2016 results, the governance of 888 Holdings (888) has dismissed industry rumours of a potential merger with Rank Group (Rank). Following the failure of a Rank-888 joint consortium takeover bid for William Hill valued at £3.4 billion, the betting industry has been rife with rumours of a potential + £1.6 …
Read More »Tag Archives: FTSE
888 declares ‘outstanding performance’ as company hits record revenues for H1 2016
Publishing its half year 2016 results (period ending 30 June), 888 Holdings governance has declared a record revenue performance driven by ‘outstanding casino and sports growth’. The FTSE-250 operator would post group revenues of $262 million up 19% on corresponding H1 2015’s $220 million. The firms record-breaking revenue performance would translate to a period EBITDA of $38 million (H1 2015: …
Read More »William Hill rejects ‘risky’ Rank-888 consortium bid
The board of William Hill Plc has moved to reject the £3.3 billion takeover bid proposed by the strategic consortium of Rank Group and 888 Holdings. Quick to reject Rank and 888’s offer which was formally issued this afternoon, William Hill governance stated that the proposed deal ‘substantially undervalued’ its corporate enterprise, choosing not to forward the bid to its …
Read More »William Hill aims for digital turnaround following ‘extremely challenging’ H1 2016
A better than expected Euro 2016, which generated £36 million gross-win has helped William Hill Plc steady its 2016 financial performance, following its worst ever Cheltenham Festival results. Presenting its H1 2016 results (period ending 30 June), William Hill governance stated that the company remains on track to hit its revised full-year guidance of £260-280 million. The FTSE-listed operator would …
Read More »William Hill governance questions ‘superior value’ of a Rank & 888 consortium bid
Updating the market this morning, William Hill governance has stated that it will ‘listen to and consider’ any formal takeover offer put forward by the Rank Group and 888 Holdings consortium. At present, William Hill governance has confirmed that it has received ‘a highly preliminary approach from 888 and Rank’, regarding a potential three-way merger. The operator has further informed …
Read More »Rank & 888 merger targets £3 billion William Hill takeover
The Sunday Times has reported that the governances of Rank Group and 888 Holdings have entered ‘relatively advanced’ negotiations to form a £2 billion merger. Rank and 888 governances are expected to issue market updates on Monday outlining merger discussions, as the UK gambling industry sees further consolidation. As yet, little is known of how the merger transaction will be …
Read More »Playtech strengthens corporate advisory with Claire Milne appointed new Non-Executive Director
FTSE-listed gambling technology provider Playtech has strengthened its corporate advisory by confirming Claire Milne as an Independent Non-Executive Director. Milne a gambling and technology legal expert will advise the Playtech board on regulatory compliance as the firm seeks expand its services within new and related sectors. Milne currently serves as a Senior Partner for Isle of Man law firm Appleby, …
Read More »No Deal! Paysafe Group hit by shareholder revolt of executive pay scheme
Online payment provider, Paysafe Group Plc (Paysafe) has become the latest FTSE-listed company to face a shareholder dispute regarding executive pay. Despite governance announcing on Wednesday that the company was outperforming its market guidance, 52% of shareholders voted against Paysafe’s executive payment scheme at the firm’s annual general meeting. It is understood that Paysafe investors are unhappy with CEO …
Read More »Playtech ends quarterly FTSE reporting
Updating the market FTSE 250 listed gambling technology provider Playtech Plc has announced that it will no longer issue updates on its corporate performance for first and third yearly quarters. The decision taken by Playtech governance will see the firm issue market updates on a half year performance basis. Playtech Plc’s decision to limit its corporate reporting follows the same …
Read More »Tough Start! William Hill issues revised profits for 2016
Issuing a trading updating, FTSE listed betting operator William Hill has revealed that it will have to revise its year guidance following a poor start to 2016. Coming off a rough week of results at Cheltenham 2016, which saw racing punters cash-in on multiple favourites combined with further unfavourable European football results, William Hill governance stated that its online division …
Read More »