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The hedge funds betting against the bookmakers

24th February, 13:30

Several brand name hedge funds are ramping up bets against GVC Holdings, the sports betting and online gaming group home to the likes of Ladbrokes Coral and Foxy Bingo, as the UK gambling sector faces sweeping regulatory changes from April.

Citadel Advisors, the long-running US manager led by Kenneth Griffin, has a 0.6 per cent bet against GVC, while Citadel Europe has a 1.23 per cent short position, according to regulatory disclosures.

Source