SBC News Voice of the Sports Betting Industry
The UK Competition & Markets Authority (UK CMA) has granted approval to the proposed fast-track of the planned Ladbrokes-Coral merger.
The agreed deal which gained a 96% investor backing in December, will now be forwarded for an in-depth phase 2 investigation of Ladbrokes merger with Gala Coral assets, which includes Coral UK, Eurobet Retail and Gala Coral’s digital division.
The Authority had begun its phase 1 investigation on December 16 2015, opening the deal for public comment. Both Ladbrokes and Gala Coral governances had requested for the Authority to fast-track its review.
At present the merger deal between the UK’s second (Ladbrokes) and third (Coral) largest retail bookmakers has passed UK CMA phase 1 conditions.
The phase 2 review will evaluate Ladbrokes-Coral market overlap with regards to UK retail betting shops, assessing consumer impacts of the merger in clustered local areas.
Additionally third parties will be given to opportunity to present their views on the merger during the phase 2 investigation, which will be managed by an independent panel supported by the Authority. The Authority is set to announce its final decision on the merger by 24 June.
