Tag Archives: dermot desmond

ARC purchases 45% share in i-neda

Arena Racing Company (ARC) has purchased a 45 per cent stake in i-neda Limited which will see them become an equal shareholder in the business alongside Dermot Desmond. The purchase is set to complement ARC’s position in the British horse racing industry, with i-neda set to offer a wealth of experience in developing betting and wagering technology. Kevin Robertson, ARC …

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Dermot Desmond invests £1.3 million in GAN

Irish finance magnet Dermot Desmond has invested £1.3 million (€1.5 million) in London AIM listed igaming systems provider GAN. Updating the market, GAN governance revealed that Desmond’s IIU Nominees (IIU) had purchased +3 million shares in the firms new share placement. Desmond’s purchase sees IIU take an approximate 5% equity in GAN. GAN governance stated that the funds would be …

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Dermot Desmond loses Playtech ‘influence’ appeal on Ladbrokes-Coral merger

Irish billionaire Dermot Desmond appears to have lost any chance of halting the merger of Ladbrokes and Gala Coral as the UK Takeover Panel has rejected his appeal regarding the influence of gambling technology provider Playtech on the deal. Desmond who owns 2.8% of Ladbrokes Plc shareholdings had appealed to the Takeover Panel regarding the disclosure of an agreement which …

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Scott Longley – Merger Mania – the race is on, but there can only be one winner…

As with comedy, timing is everything in business. While there is a logic to the recent outbreak of consolidation within the gambling industry, for two of the mega-deals currently underway – the Paddy Power Betfair and Ladbrokes Coral mergers – the coincidence of the deals is providing onlookers with some choice compare and contrast examples. ____________________________ Last week was an …

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Carl Leaver dismisses Desmond’s concerns regarding Ladbrokes-Coral

Carl Leaver CEO of Gala Coral Group has dismissed claims that the creation of Ladbrokes-Coral will only favour Coral stakeholders. Having announced Gala Coral’s year to date performance which saw the operator record EBITDA earnings of £205 million, Leaver dismissed the recent criticisms of Ladbrokes investor Dermot Desmond. The Irish investment magnet had made scathing criticisms regarding Ladbrokes governance woeful …

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Desmond’s Ladbrokes-Coral derail fails as investors back merger

Despite Dermot Desmond’s last ditch attempt to derail its £2.2 billion merger with Gala Coral, Ladbrokes shareholders are reported to have voted in favour of the deal this morning. London business news sources report that 90% of Ladbrokes Plc investors backed the merger, despite hearing Desmond’s arguments against its progression. Furthermore Ladbrokes governance rejected Desmond’s appeal for a second merger …

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Dermot Desmond ups battle against Ladbrokes-Coral merger

Having launched a scathing attack on Ladbrokes £2.2 billion planned merger with Gala Coral, which saw the publication of saynotocoral.com, Irish financier Dermot Desmond is set to further argue his concerns regarding the merger at a Ladbrokes investor meeting to be held this Tuesday in London. Desmond, who holds a 2.8% company stake, and his public attack against the merger highlighted …

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Ladbrokes restates case for Coral merger after Desmond criticisms

Ladbrokes has moved to counter the call by Dermot Desmond for shareholders to reject its proposed merger with Coral by reiterating the rationale behind the deal. In a message to the stock market, Ladbrokes’ board said that it ‘noted’ Desmond’s letter and acknowledged that it had had ‘significant dealings’ with him as both a shareholder and a commercial partner over …

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‘Passive’ Ladbrokes shareholders told to block Coral merger by Dermot Desmond

Ladbrokes investor Dermot Desmond has come out fighting against the merger between UK bookmakers Ladbrokes and Gala Coral, imploring the ‘passive’ Ladbrokes shareholders to block the deal and look for better options. Desmond, who has had a long standing interest in the gambling industry through initiatives such as betting exchange BETDAQ, Irish bookmaker Chronicle and GBE Technologies, notwithstanding a stake in …

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