Tag Archives: merger

Optima acquisition sees Sportradar offer full betting solution

OPTIMA

Sports data and content supplier Sportradar has confirmed the acquisition of the award-winning sports betting and gaming omnichannel platform business Optima, with the deal effective immediately. The acquisition sees Optima extending Sportradar’s current betting services portfolio to become a full-service B2B data, betting, trading and player management platform business. Acquiring Seville based Optima, Sportradar governance details that will create a …

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Rising Stars and Hill slides – divergent tracks after merger talks

The degree to which the fortunes of the Stars Group and William Hill have diverged since their failed merger talks 18 months ago provides an interesting counterpoint to the current obsession with sector M&A. A recent note on Stars published by the Canadian analyst team at Canaccord Genuity noted that the company’s share price rose 54 percent in 2017, placing …

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Tabcorp reports flat revenues on last Melbourne Cup before merger

Last week’s Melbourne Cup provided a thrilling finish when Almaddin edged out Heartbreak City at the winning post, but the amount of wagering on the day was not as exciting. According to Australian bookmaker Tabcorp, there was $141.5 million (£87.7m) wagered on the 10-race Melbourne Cup meeting at Flemington across the Tabcorp-owned NSW, Victorian and ACT TABs, which was in …

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Intralot Group and Gamenet merger

It has been announced that Intralot Group and Trilantic Capital Partners Europe, the controlling shareholder of Gamenet, have signed a deal which will see the group’s Italian activities merge with Gamenet. Intralot will reportedly control 20% of the combined operations which will see the group become one of the largest operators in the Italian gaming market once the deal is completed. This …

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Jim Mullen – Betting industry needs ‘clear air’

Ladbrokes Chief Executive Jim Mullen has called on the government to give the betting industry some respite in an interview with the Daily Telegraph. In just over 12 months, the industry has seen the introduction of a point of consumption taxation, a 5% increase in machine gaming duty to 20%, new restrictions on gaming machines in the shape of the …

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John Kelly appointed new Ladbrokes chairman ahead of Coral merger

John Kelly has been appointed chairman of Ladbrokes after Peter Erskine stepped down from the Board on 3 December in anticipation of the proposed merger with Coral. Kelly is a former chairman and CEO of Gala Coral and will be the Chairman of the combined organisation. Erskine announced his intention to step down earlier this year and decided now was …

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Betfair – Paddy Power merger on course for Q1 2016

The merger between Paddy Power and Betfair is all set to be completed early next year, according to Betfair CEO Breon Corcoran. During the exchange operator’s half year results, the company confirmed that all relevant regulatory filings have been submitted and the merger is on track for completion in Q1 2016, subject to shareholder and regulatory approval Betfair appears to …

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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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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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