Parvus Asset Management may demand the selling of the global leading sports betting operator.
UK.- British gaming firm William Hill’s future is under discussion after one of its major shareholders, Parvus Asset Management, announced its intentions to sell the company. William Hill operates a globally renowned sports betting and gaming platform, which has proved high success in several continents.
The statement was published two days ago in the Sunday Times and the article suggested that a biggest potential buyer may be GVC Holdings. Other popular gaming companies such as 888 Holdings and Rank Group have been showing their interest in emerging with the UK sports betting giant.
Parvus Asset Management manages a 14 percent of William Hill’s stake, which is a major part of the company. Neither the shareholder nor the firm’s representatives have denied or confirmed the demand. William Hill has held a few meetings with Amaya, operator of the most popular poker site PokerStars, in order to set a merger, although the negotiations failed last year.
Currently, UK gaming authorities are carrying out a deep probe over the industry and it is expected that legislators would approve further gaming laws. One of them could reduce the minimum bets on fixed odds betting terminals from £100 to £10, which would impact in William Hill’s profits by up to 74 percent negatively.