A group of gambling industry veterans is pushing for changes at 888 Holdings Plc, the owner of British betting chain William Hill, in a bid to boost the bookmaker’s value.
The consortium has built a 6.6% stake in London-listed 888, according to a regulatory filing Tuesday that confirmed an earlier Bloomberg News report. The group includes Lee Feldman, the former chairman of betting firm GVC Holdings Plc, which is now known as Entain Plc.
“We think these are great assets that are currently undervalued,” Feldman said by phone Tuesday, declining to comment further. Shares in 888 closed up 14% in London on Tuesday, giving the company a market capitalization of £359 million ($446 million).
