Bookmakers were cheering on Friday following a report that the new £2m maximum stake on fix-odds betting machines will not be implemented until April 2020 after the Treasury agreed to a backroom deal.
WPP: Berenberg downgrades to sell with a target price of 1,075p.
Thomas Cook: Numis downgrades to add with a target price of 159p.
The UK government on Thursday cut the maximum stake on fixed-odds betting terminals (FOBTs) from £100 to £2 in a move that delighted anti-gambling campaigners and brought a mixed reaction from the industry.
William Hill said the government's cut in fixed odds betting terminal (FOBT) stakes to £2 would hit operating profits by up to £100m and reduce gaming revenue by 35-45%.
British bookmakers look set to tap into a gambling bonanza across the Atlantic after the Supreme Court gave permission for states to allow sports betting.
Just Group: Deutsche Bank initiates at hold with a target price of 170p.
Bookmaker William Hill hailed strong online and US performances as net revenues rose 3% in the first 17 weeks of the year, putting rivals' results rather in the shade.
(WebFG News) - Shares in bookmakers William Hill and Ladbrokes-Coral owner GVC Holdings took a tumble at the first fence on Tuesday after the government was reported to be ready to back a big reduction in the maximum stake for highly profitable and addictive gambling machines.
Shares in bookmakers Ladbrokes and William Hill galloped higher on Monday after reports that they will avoid the worst scenarios envisaged from the government's triennial review on fixed-odds betting terminals.
Capita: Shore Capital Markets upgrades to hold.
William Hill has signed a binding agreement to dispose of its William Hill Australia business to CrownBet Holdings - a wholly owned subsidiary of CrownBet, which is owned by The Stars Group - and a group of shareholders associated with the founder and CEO of CrownBet, Matthew Tripp, it announced on Tuesday.
Analysts at Credit Suisse took a look at William Hill on Tuesday, reiterating both their 'outperform' rating and target price of 380p on the bookmaker's shares.
William Hill announced its final results for the 52 weeks ended 26 December on Friday, with adjusted net revenue rising 7% to £1.71bn.
Bookmaker William Hill has been forced to pay £6.2m in fines by the Gambling Commission for "systematic social responsibility and money laundering failures".
Suggestions in the weekend press that new Culture Minister Matt Hancock will slash the maximum stake on fixed-odds betting machines to £2 hit shares in bookmakers on Monday.
Johnson Matthey plc: Berenberg upgrades to buy with a target price of 3,680p.
William Hill said it expected full-year adjusted operating profit to be around 11% higher at £290m, as it announced a review of its Australian business ahead of the introduction of a credit betting ban next month.
Canaccord Genuity upgraded William Hill to 'buy' from 'hold' and lifted the price target to 350p from 285p on Friday, pointing to better prospects ahead for its "long-suffering shareholders".