Hills to join FTSE 100 this week
Operator will join share index on Wednesday, following merger of two existing FTSE firms
William Hill is poised to return to the FTSE 100 this week for the first time since being relegated from the share index in 2005.
The operator had been second reserve when its first-quarter results were released earlier this month, and chief executive Ralph Topping said at the time that he hoped the firm would become a £5bn company “within three to five years”. He added that Hills was on the second reserve list to join the FTSE 100, saying that “now is the time to drive ahead” with plans to expand the business.
Hills will join the FTSE 100 on Wednesday following the completion of a merger between mining businesses Xstrata and Glencore International, both of whom already sat on the index of the 100 London-listed companies with the highest market capitalisation.
It will be the only gambling operator on the list, which it joins for the second time this century. Hills was relegated from the index in 2005, while other current or former Power 50 operators to have once sat on the FTSE 100 include PartyGaming (since merged with bwin to form bwin.party) and Ladbrokes.