Shares In The Owner Of William Hill Soared After Former Ladbrokes Bigwigs Became Its Biggest Shareholder

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Shares in the owner of William Hill soared after former Ladbrokes bigwigs became its biggest shareholder.
Gambling group 888 rose 25.6 per cent, or 20.5p, to 100.5p - its highest since the end of January - as FS Gaming Investments took its stake to nearly 7 per cent.
US-based FS is an investment vehicle which includes industry veterans Kenny Alexander, Lee Feldman and Stephen Morana.
They all worked for Ladbrokes and Coral owner Entain.
The trio have teamed up with Shay Segev, who succeeded Alexander as Entain chief executive and ran the company until 2021.
All in: William Hill owner 888 rose 26.8% to 101.4p - its highest since the end of January - as FS Gaming Investments took its stake to nearly 7%.
He has now handed over his 2 per cent holding in 888 to FS, taking its holding from 4.6 per cent to 6.6 per cent.
That makes them the largest shareholder in 888, whose empire includes 1,350 William Hill bookies and brands such as SI Sportsbook and Mr Green. Feldman said: ‘This is an investment in a company that is undervalued.'
The move set tongues wagging in the industry over their intentions for 888, whose stock is down nearly 80 per cent since autumn 2021.
The company was left reeling by a record £19.8m fine from the Gambling Commission in March for ‘social responsibility and anti-money laundering failings'.
And it is still looking for a chief executive after Itai Pazner left in January amid problems with VIP accounts in the Middle East.
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<div class="art-ins mol-factbox floatRHS money" data-version="2" id="mol-1e861870-cf19-11ed-afe0-e1c8635f86cb" website REPORT: Gambling bigwigs punt on William Hill owner

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