| CATEGORY: BROKER RECOMMENDATIONS SECTOR: TRAVEL & LEISURE |
Broker snap: William Hill price target cut on Gambling report fears |
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Tue 28 Oct 2008
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LONDON (SHARECAST) - Concerns over the future of the highly lucrative fixed-odds betting terminals has contributed to US bank slashing its target price for bookie William Hill.
There is evidence to suggest that the betting terminals are a contributory factor in gambling addiction, and with a Gambling Commission report due to be published next year, Citigroup believes there is a danger they may be banned from betting shops.
The Commission could also contemplate an increase in machine gaming duty.
Citigroup has cut its price target for the bookmaker to 245p from 175p, but retains its “hold” recommendation.
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