The billionaire founder of giant British bookmaker Betfred, Fred Done, has reportedly spent an undisclosed amount in order to purchase slightly over 3% of the shares in London-listed rival William Hill.
According to a Monday report from the Racing Post newspaper, the 77-year-old’s acquisition of some 874,189,537 shares means that he now holds a 3.03% stake in William Hill, which is responsible for in excess of 2,000 retail bookmakers spread across the United Kingdom as well as operations in nine of the 14 American states that have so far legalized sportsbetting.
American achievement:
The Racing Post reported that Done’s deal comes after William Hill chalked up an annual loss for 2019 of about £37.6 million ($48.9 million)<…
