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Ladbrokes-Coral Sells Shops to Betfred and Stan James

Ladbrokes-Coral offers shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have concurred to bet9ja’s welcome offer 359 stores to competing betting firms in what they state is the “last significant hurdle” for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will purchase 322 shops and Stan James the other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral need to sell 350-400 shops for their merger to be cleared.

The Competition and Markets Authority (CMA) will now assess the shop offers, external.

Jim Mullen, the president of Ladbrokes, stated: “The sale of these shops will clear the last substantial hurdle to providing on the merger with Coral and leads the way for our focus on completion and quickly providing on the chances the merger uses.”

The 2 bookies said they would seek approval from the CMA to finish the merger once they sell one further shop.

Market leader

Ladbrokes and Gala Coral are the UK’s 2nd and third largest retail wagering companies, behind .

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

A merger between the 2 would make them the UK’s biggest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competition and bolster its online offering.

It was extensively reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn deal despite misgivings from its largest investor.

Ladbrokes-Coral must offer 350-400 stores

26 July 2016

William Hill investor snubs merger plan

14 October 2016

Investors – Ladbrokes plc