ladbrokes-coral-sells-shops-to-betfred-and-stan-james

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Ladbrokes-Coral sells shops to Betfred and Stan James
bit.ly
17 October 2016

Ladbrokes and Coral have actually accepted bet9ja's welcome offer 359 shops to competing wagering companies in what they say is the "last substantial obstacle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will 322 stores and Stan James the other 37 for a total of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral should sell 350-400 look for their merger to be cleared.
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the yohaig code Competition and Markets Authority (CMA) will now assess the yohaig code shop offers, external.
bit.ly
Jim Mullen, the president of Ladbrokes, said: "The sale of these shops will clear the last substantial difficulty to delivering on the merger with Coral and paves the way for our focus on conclusion and rapidly providing on the opportunities the merger offers."

The two bookmakers stated they would look for approval from the CMA to complete the merger once they sell one further store.

Market leader

Ladbrokes and Gala Coral are the UK's 2nd and third largest retail wagering firms, behind William Hill.

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

A merger in between the 2 would make them the UK's biggest High Street bookmaker.
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However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the yohaig code PokerStars franchise, to stay up to date with the competition and reinforce its online offering.
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It was widely reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn bet9ja's welcome offer regardless of misgivings from its biggest investor.
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Ladbrokes-Coral should sell 350-400 stores

26 July 2016

William Hill financier snubs merger strategy

14 October 2016

Investors - Ladbrokes plc