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UK Gambling Stocks Tumble

21 Oct 2004

UNITED KINGDOM – As reported by the UK Telegraph: "Punters cashed in their gambling stocks yesterday as traders worried about the impact of gaming legislation.

"Dealers fear that a clampdown on fixed odds betting terminals will hit William Hill and Hilton Group, and that deregulation of casinos would lead to both companies losing market share. They also expect analysts will revise their figures for the companies.

"At one stage, William Hill fell to 493p but the stock later regained some of its losses after finance director Tom Singer bought 5,000 shares at 500.8p each. The shares closed 14.5 lower at 502p. Hilton Group eased 5.5 to 266p…"

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