Tag Archives: gala coral

Inspired launches 7 new HTML5 games for mobile and online

Inspired, a leading provider of Virtual Sports, Mobile Games and SBG Video Lottery, has announced the recent launch of seven new HTML5 mobile games. The following games, which are already proving popular amongst players, will be available to all Inspired operators, including William Hill, Gala Coral and Bet365: Centurion: Set in ancient Rome, this omni-channel bonus game features the lovable Centurion …

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Carl Leaver offers UK Racing fixed 7.5% ABP charge

Gala Coral CEO Carl Leaver has issued UK racing stakeholders a revised offer regarding the betting industry’s continued row over the disputed ‘authorised betting partner’ (ABP) policy. Leaver’s Coral betting enterprise has yet to commit to the ABP program, on Tuesday the CEO stated that his firm would “happily pay a levy of 7.5% on their winnings” relating to horse …

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UK CMA grants Ladbrokes-Coral phase 2 fast track

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 …

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Caledonia Investments plc completes purchase of Gala Bingo

Caledonia Investments plc has announced that it has completed the purchase of the UK’s largest retail bingo operator, Gala Bingo, from Gala Coral Group. Caledonia acquired 130 Gala Bingo clubs for a fee of £241m. Gala Bingo was formed in 1991 and currently holds a 38% share of the retail bingo UK market. It’ll continue to trade under the Gala brand …

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Scott Longley – Don’t panic…Ladbrokes-Coral faces up to the competition authorities

Scott Longley assesses the upcoming UK CMA review of the Ladbrokes-Coral merger and how the deal will shake-up all sections of the UK betting sector. The phony war is over. The announcement yesterday that the £2.3bn Ladbrokes Coral merger has been officially notified to the Competition and Markets Authority (CMA) means we now have something of a timetable for whether …

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Snow to become acting Chief Financial Officer at Ladbrokes

Following Ian Bull’s departure it has been announced that Richard Snow will take over as acting Chief Financial Officer at Ladbrokes from the end of February. Back in September the bookmaker announced that Ian Bull would be stepping down ahead of the planned merger between Ladbrokes and Gala Coral. Snow will take on the role on a temporary basis until the …

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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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Gala Coral maintains growth despite growing headwinds & tough comparative period

Reporting on its year to date performance (period ending 30 September), Gala Coral has recorded Group EBITDA earnings of £205 million, just 1% ahead of 2014’s £202 million. Gala Coral governance stated that corporate performance had remained strong despite encountering significant regulatory headwinds and a tough comparative period which featured no World Cup to boost company performance. The operator maintained …

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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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Ladbrokes secures £1.35bn funding for Coral merger

Listed bookmaker Ladbrokes has signed a £1.35 billion facility with a syndicate of relationship banks to provide committed financing for its proposed merger with Coral. The deal means that Coral’s existing debt of £1.4 billion won’t be carried over to the new group. The new facility has three tranches and will be available for drawing subject to completion of the …

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