Tag Archives: merger

Analysts believe ‘Betty Power’ won’t be the last major merger deal

The markets have responded positively to today’s announcement by Paddy Power and Betfair that they are considering a merger. Betfair shares jumped 18%, while Paddy Power’s have increased by more than 15%. In contrast, the share prices of competitors William Hill and Ladbrokes have dropped on the news. Writing in the FT’s Lombard column, Jonathan Guthrie said that the merger …

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Paddy Power and Betfair agree merger in principle

Paddy Power and Betfair have announced plans for a sensational merger. The betting exchange and the bookmakers have reached an agreement in principle on the key terms of a possible merger of Paddy Power and Betfair to create Paddy Power Betfair plc. The firms said that the possible merger would create one of the world’s largest public online betting and …

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Deal agreed for £2.3bn Ladbrokes Coral merger

The boards of Ladbrokes and Coral have managed to agree on a merger deal which will create ‘a leading multi-channel and internationally diversified business with a compelling strategy to accelerate online growth, deliver substantial synergies and drive value’. Ladbrokes Coral plc will have net revenue of £2.1 billion and £392 million of EBITDA (excluding cost synergies of at least £65 …

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Ladbrokes’ LBO plans include wi-fi and ‘sports experts’

A report in the Daily Telegraph suggests one of new Ladbrokes CEO Jim Mullen‘s plans to revitalise business in the bookmaker’s betting shops is to have them operate as wi-fi hubs, allowing customers to bet with the firm via their own devices. By boosting the wi-fi capabilities in its 2,100 retail estate, the bookmaker is hoping to increase its recreational …

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Ladbrokes defers presentation as Coral merger talks continue

Ladbrokes has announced that it is to defer its planned business review presentation as talks over a possible merger with Gala Coral’s betting business continue. The presentation, due to be held tomorrow, was one of the early announcements by Jim Mullen when he became CEO as he planned to communicate his vision for the business, but events has since superseded …

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Ladbrokes admits merger talks with Coral

Ladbrokes has revealed it is in shock merger talks with fellow bookmaker Coral as CEO Jim Mullen aims to make immediate progress in catch up with rival William Hill. Ladbrokes has issued a statement to the stock market, responding to press speculation about a merger, in which it admits to having talks. It said: “In response to recent press speculation, …

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SNAI strengthens Italian market position with Cogemat merger

Italian sports betting operator Gruppo SNAI has agreed to a corporate merger with Italian licensed gambling operator Cogemat, which will see the new company valued at + €145 million SNAI will incorporate all assets and business subsidiaries of Cogemat, including gambling technology and content provider Cogetech which services 9% of the Italian gambling machines market. Italian news sources report that …

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Bally shareholders to vote on Scientific deal next month

Slot gaming expert Bally Technologies, Inc is holding a special meeting for shareholders on 18 November to vote on the proposed merger into Scientific Games. The deal will see Bally continue as a wholly owned subsidiary of Scientific Games. The merger, which is expected to be completed by the end of calendar 2014, is subject to the approval of a …

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Scientific Games agrees $5.1bn Bally deal

Scientific Games Corporation is to by Bally Technologies in a deal worth US$5.1bn. “The acquisition of Bally provides us with a unique opportunity to combine two exceptional companies with long track records of creating leading-edge games and gaming technology products for players and delivering innovative solutions to our customers,” said Gavin Isaacs, Scientific Games’ President and Chief Executive Officer. “With …

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Numis Corp Suggests William Hill & Paddy Power Merger

Financial Stock brokers and corporate advisors Numis Corp have suggested that William Hill and Paddy Power explore a potential merger. A Numis Corp statement on Tuesdays London fianancial trading, indicated that the conditions in the sports betting and gambling market, could see the potential merger of Paddy Power and William Hill. “This would create a much more attractive investment than …

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