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Ladbrokes-Coral Sells Shops to Betfred and Stan James

Ladbrokes-Coral offers shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually accepted sell 359 stores to competing wagering companies in what they say is the “last considerable hurdle” for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will buy 322 shops and Stan James the other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral must bet9ja’s welcome offer 350-400 buy their merger to be cleared.

the yohaig code Competition and Markets Authority (CMA) will now assess the shop deals, external.

Jim Mullen, the president of Ladbrokes, said: “The sale of these shops will clear the last substantial obstacle to providing on the merger with Coral and paves the way for our focus on completion and rapidly providing on the yohaig code opportunities the merger uses.”

The 2 bookies stated they would look for approval from the CMA to finish the merger once they sell one more shop.

Market leader

Ladbrokes and Gala Coral are the UK’s 2nd and third largest retail betting companies, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 shops in Britain.

A merger in between the two would make them the UK’s biggest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competition and strengthen its online offering.

It was extensively reported, external over the weekend that William Hill plans to push ahead with the ₤ 4.5 bn deal despite misgivings from its biggest investor.

Ladbrokes-Coral must sell 350-400 stores

26 July 2016

William Hill financier snubs merger plan

14 October 2016

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