Analysts believe the US sports betting and iGaming market will eventually be worth US$20bn, as more states continue to regulate, soon to cover over 40% of the population, while iGaming momentum has accelerated during lockdown.
Investor appetite has also increased, with daily fantasy sports contest and sports betting operator Draftkings currently valued at US$18bn.
“These developments, coupled with Eldorado’s acquisition of Caesars, strengthen the case for William Hill seeking a full tie-up of digital assets,” analysts commented.
“Going ‘all in’ with Caesars would bring scale, brand and iGaming and we estimate could eventually be worth US$8bn – potentially 300p per share William Hill share.”
Shares dipped 2% to 222p on Thursday late morning.
Published at Thu, 24 Sep 2020 09:53:00 +0000-William Hill back to ‘buy’ for Shore Capital over US opportunity