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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.
3 Top Bitcoin Poker Sites -
Bitcoin, in particular, is a cryptocurrency that you can use on various online poker sites and it allows a faster and cheaper way to get money into and out of the online poker site.
Kentucky Derby Odds: Justify still Favorite -
With all the races on the Road to the Kentucky Derby complete, Justify is still on top of the odds list at 4/1. But he’s got company: Mendelssohn (9/2), Audible (11/2) and Magnum Moon (8/1) are all very much in contention for the big race on May 5.
888Poker Takes Over the States -
With more and more states moving toward online casino integration, an increasing number of international players are moving in on American territory. Who will take the crown of the most popular online poker venue in the United States?
Top gambling ICOs to watch this year -
The gambling ICOs that are being launched in 2018 are of better quality. Unlike the last half of 2017 when ICOs were numerous, the first few months of 2018 have seen a big drop in number.
MPN Poker Tour Bratislava | Day 2 -
It was a hard fight around the bubble, culminating in the elimination of Georgios Drakakis in 46th place. He received a surprise consolation entry into the next MPNPT stop in Sunny Beach, Bulgaria (5-8 July), which softened the blow of missing out on a €900 min-cash.
MPN Poker Tour Bratislava Day 1B -
Dorey Captures Chip Lead After MPNPT Bratislava Day 1b Triples 1a Field Size. The second flight of the €550 MPN Poker Tour Bratislava Main Event is in the bag, and so are the chips of 97 players who will be returning along with the 26 Day 1a survivors to fight to the money and beyond today
MPN Poker Tour Bratislava Day 1A -
The MPN Poker Tour has arrived in Bratislava for the very first time, bringing with it the Tour’s friendly mix of local and globe-trotting poker enthusiasts, pros and qualifiers to the beautiful Slovakian capital.
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