Having gained a 90% Ladbrokes shareholder approval, the UK Competition & Markets Authority (UK CMA) has opened its invitation for comment on the proposed £2.3 billion merger of Ladbrokes-Coral. The UK CMA has requested for assistance regarding its review of the planned merger, seeking to research whether a joint enterprise may result in a substantial impacting of commercial competition within …
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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 …
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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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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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Following a period of concentrated acquisition activity in the financial services sector, igaming technology and provisions provider Playtech Plc has announced its unaudited Interim H1 2015 results (period ending 30 June), recording growth on all key performance metrics . Playtech H1 2015 performance overview The FTSE 250 listed company, saw a revenue rise of 33% to €286 million (H1 2014 …
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As Ladbrokes governance plans to announce its Half Year 2015 performance this Tuesday, London business analysts and investors fear the worst for the bookmaker after writing down the value of its retail betting portfolio. Ladbrokes are set to record an impairment charge of between £75-85 million, which will guarantee that the operator records a pre-tax loss for H1. New CEO …
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