Buy: William Hill (WMH)
At 296p, William Hill shares are down on our previous buy tip, but the company recently refinanced its debt at virtually half the previous interest rate. For that reason, investment in the business, particularly online, should remain robust.
A surprise departure by a chief executive tends to be taken badly, but despite James Hendersons exit, shareholders in William Hill seemed to be in jubilant mood, pushing the stock up by 11 per cent. Mr Henderson had only been in the top job for about two years but was a lifer at the high street bookie, having notched up 31 years in various roles there. Philip Bowcock, chief financial officer, is the interim replacement.
Rivals 888 and Rank seem to have used the shake-up …
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