Gala Coral Achieves Substantial Growth in the UK Online Gambling Market
Posted: December 1, 2015
Updated: October 6, 2017
Gala Coral recently announced that its online gambling division has successfully achieved a substantial growth in the UK online gambling market this year with a rise in revenue and earnings in comparison to last year.
By the looks of it, it seems like Gala Coral is gradually winning the hearts of many in the UK online gambling market as the group’s overall revenue before interest, tax, depreciation and amortisation (EBITDA) came up to £1 billion this year. This amount represents a year-on-year increase of 6% in the previous 12 months.
According to gambling news, the positive results came at an extremely timely manner during which Gala Coral was on the verge of completing its planned merger with Ladbrokes. As a result, over 90% of Ladbrokes shareholders gave their approval to the merger deal which is expected to take place in the very future.
Ladbrokes and Coral Expected to Take UK Online Gambling Market By Storm
Now that Ladbrokes shareholders have voted in favour of the merger deal with Gala Coral, it can be expected that both companies will be making it to the list of top online gambling sites in the UK. Both Ladbrokes and Gala Coral say they expect the merger to generate a total revenue of £2.1 billion and earnings of £392 million before interest, tax, depreciation and EBITDA.
The newly branded ‘Ladbrokes Coral’ is still waiting to receiving regulatory approval, with an almost-certain investigation by the Competition & Markets Authority (CMA), before it can officially come into effect.