According to UK gambling news, the Ladbrokes-Coral merger might be completed this week, creating a EUR 2,3 billion business.
More than a year after the initial agreement, the Ladbroke-Coral merger might be finally completed this week, creating a EUR 2,3 billion business. According to UK gambling news, Gala Coral’s senior stuff might receive a windfall profit of GBP 50 million in total. However, the companies still did not receive the UK Competition and Market Authority’s seal of approval. In May, the Authority expressed its concerns regarding competition, as the two firms own more than 4,000 betting shops in total. The Market Authority advised that they sell 500 shops. In June, Ladbrokes confirmed that the merger might not go through, stating that “shareholders are advised that there can be no certainty that the discussions between Ladbrokes and Gala Coral will lead to any agreement concerning the possible merger.”