SBC News Voice of the Sports Betting Industry
Fred Done owner of Betfred is reported to be closely monitoring the £2.3 billion merger of Ladbrokes and Coral.
Speaking to The Sunday Times, Done detailed that his firm were preparing to bid for as many as 500 retail betting shops he believes will be sold in order for the merger to satisfy UK regulatory competition terms and conditions.
At present independent bookmaker Betfred operates 1400 betting shops, Done detailed that his executive management team were assessing whether to significantly boost the operator’s retail portfolio.
Done and Betfred will likely compete against Irish independent bookmaker Boylesports for the Ladbrokes and Coral properties.
In August Boylesports Founder and CEO John Boyle detailed to Irish news sources that his firm viewed the Ladbrokes and Coral merger as a significant opportunity to expand its retail services quickly and at relative low cost within the highly saturated UK market.
Confident of clearing all regulatory hurdles in order to complete its planned merger with Ladbrokes, Carl Leaver CEO of Coral last week noted that he wouldn’t necessarily disagree” with rumours that between 400 and 500 shop sales would be demanded.
Leaver stated that the betting shop sales figure would be an acceptable one for both Coral and Ladbrokes governances.
