The shares of British bookmakers fell because of Brexit

The shares of British bookmakers fell because of Brexit

The shares of bookies William Hill, Ladbrokes, 888 and Paddy Power Betfair reduces in price as a result of the United Kingdom European Union membership referendum.

William Hill shares fell 22% but later recovered to 29.7 points from initial 300.2. The shares of Paddy Power Betfair fell 25%, recovered but they still have a loss of 2.5% during a day. The shares of Ladbrokes, GVC, 888 and Rank Group fell over 10%.

Although, their prices recovered after the trading on London exchange market started.

The experts say that the results of the Referendum will cause short-term influence on the bookies as GB will be the member of the EU for two more years and the terms of its exit will be discussed.