Even if all that Brexit business was in 2016, Brexit negotiations began on Monday with Theresa May and her team seeking to negotiate Britain’s exit from the EU. The worst-case scenario is the fragmentation of the UK and European markets as a result the companies with the most reliant on European revenues will be affected the most.
Only the strongest companies will recover quickly such as Paddy Power Betfair, Ladbrokes and Playtech and it would take longer time for the weaker companies to recover. As per the ones that are looking to add to positions in strong UK bookmakers, they shall consider and wait until the completion of the talks.
On the occasion of the talks, Paddy Power bookies erected a 120-ft Theresa May statue on the White Cliffs of Dover which can be seen from Normandy, depicting the Prime Minister making a ‘V’ sign salute with her fingers to simulate “a hard Brexit” wearing a union jack dress.
A Paddy Power spokesman said: “I’m really proud of this statue, if only because it’s the first time that I can legitimately claim to have a huge erection.
“We tried to make the installation look as life-like as possible to Theresa May – which is why it’s two-dimensional and largely wooden.
“During construction, it was both strong and stable, but soon went weak and wobbly when the winds changed – about as stable as a partnership with the DUP.”