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Gala Coral and Ladbrokes Merger
Monday July 20,2015 : GALA CORAL - LADBROKES DEAL LATEST (Update)
Announcement expected this week.
Merger negotiations which began in June this year between Gala Coral and Ladbrokes are about to bear fruit, according to the London publication CityAM, which reported Monday that an announcement on the deal is expected this week.
The merger of the second and third largest gambling groups in the UK would create a powerhouse worth GBP 3.5 billion that eclipses market leader William Hill plc, the newspaper notes.
Ladbrokes, currently valued at GBP 1.2 billion, is expected to issue new shares to buy Gala, which is owned by a collective of private equity investors including Apollo Global Management, Candover Investments and Cerberus Capital Management.
Gala Coral Group believes that a merger with Ladbrokes “has the potential to be strongly value accretive for both companies’ shareholders”.
The news comes on the heels of 888 Holdings' successful GBP 898 million bid for rival Bwin.Party last week.
Ladbrokes and Gala Coral have not yet commented on the report that a deal is imminent. Back in 1998 a Ladbrokes attempt to acquire Gala was stifled by a Labour government veto on grounds that it had the potential to be anti-competitive.
Gambling News :
Betradar Launches US Sports Betting Solutions -
With only a few weeks to go until the betting and gambling world descends on ICE in London, Betradar have today announced that they will be launching a comprehensive range of tools and services to any company that will be looking to provide sports betting in a post-PASPA United States.
Final 12 For MPNPT Morocco -
Sunday on the MPN Poker Tour Morocco will see several trophies awarded at the Mazagan Beach Resort, with the largest going to the Main Event champion along with a prize of MAD 400,000 (c.€35,400).
MPNPT Morocco Updates -
Leading the 104 combined survivors from both flights is still Said El-Yousfi with 272,000 chips; visit the MPN Poker Tour blog for an end-of-day recap and full chip counts.
MPN Poker Tour Morocco Day 1A -
The MPN Poker Tour has returned to Morocco this week (January 11-14), featuring the MAD 1.5 million guaranteed Main Event, accompanying side events, and the activities and parties for which this tour has now become known on two continents.
2018 MPN Poker Classic -
The MPN announces the return of The Classic tournament series this January. The series is back following its successful €350,000 guaranteed debut in 2017. This time €500,000 is guaranteed, along with a once in a lifetime trip to Monaco for the Classic Champion.
PDC and Sportradar Renew Deal -
Following this month’s hugely successful World Championship, the Professional Darts Corporation (PDC) and long-standing partners Sportradar have renewed their multi-faceted cooperation that will see the leader in sports data and content continuing in their role as official data
Poker Yaar Joins MPN -
Available through download, instant play and mobile, Pokeryaar.com is live with Omaha, Hold’em and Five-Card poker variants, alongside MPN’s Fish Party, the industry’s only progressive jackpot SNGs.
New MPN Poker Rooms Tower Torneos -
Impressed with Microgaming, having already integrated with the Quickfire platform to gain access to some of the industry’s best gaming content, Tower Torneos has extended the relationship with poker.<
NY Rangers vs. Devils on 12/21 -
When the Devils and Rangers hit the ice on Thursday (7 PM ET on MSG), so too will two of the league’s top netminders. After a slow start to the season, Henrik Lundqvist has returned to his form of old. Through 29 games, he’s posted a 2.59 goals against average, and a .920 save percentage.
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