GVC -40, WILIAM HILL -55% Over Past Year...why we surprised?The two other publicly listed leaders in our B2C field are both down over 40% in one case and 55% in the other. That Stars isn’t down proportionally more given that it has taken on a large amount of debt is quite amazing. With the entire industry reprised, what we have faced is mostly a macro event, with some push down for the added risk of consolidating four companies into one in one year and added debt. What Stars come right back once the combined entity proves how much better it is together than it was apart.