(The Telegraph) It is not just the punters that flocked to the Cheltenham Festival that have profited at William Hill’s expense. One of the City’s biggest hedge funds is also in line for windfall thanks to the beleaguered bookmaker, after making a canny bet against the gambling company’s shares.
GLG Partners is shorting William Hill, meaning the hedge fund stands to benefit from the 11pc plunge in the bookie’s stock last Wednesday – its biggest one-day fall in more than seven years – in the wake of a shock profit warning.
