Tag Archives: UK CMA

GVC Holdings secures £1.4 billion debt syndication for Ladbrokes Coral takeover

Issuing a market update, FTSE-listed online gambling group GVC Holdings has detailed that it has launched a ‘general syndication’ for its intended debt-financed takeover of Ladbrokes Coral Plc. Pursuing the larger FTSE100 Ladbrokes Coral enterprise, GVC governance has secured a syndicated ‘Lien Term B’ debt-bond valued at £1.4 billion (comprising £, € and US$ tranches). Furthermore, through the restructured debt …

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Competition concerns see UK CMA call for ‘Phase 2’ investigation of Novomatic Talarius buyout

The £116 million acquisition of Talarius arcades by Novomatic Group (Novomatic) faces an ‘in-depth investigation over competition concerns’ by the UK Competition & Markets Authority (CMA). Publishing an industry update, CMA officials detailed that following Novomatic’s acquisition of Talarius, the company would operate 264 UK adult gaming centres, which may harm sector competition conditions. Stating its concerns, the authority detailed …

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Gala Coral expects strong digital growth for Q4 2016

Publishing its trading update for Q4 2016 (12-week period ending 25 September), Gala Coral expects to report an 8.9% group net revenues uplift on corresponding 2015 performance. In what may likely be its last financial update as an independent gambling operator, Gala Coral stated that its performance had been driven by the continued growth of its digital division, which reported …

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BoyleSports queries CMA regarding the sale of Ladbrokes-Coral shops

Irish independent bookmaker BoyleSports has publicly ‘communicated its concerns’ to the UK Competitions & Markets Authority (CMA) regarding the sale of 359 retail betting shops as part of the pending Ladbrokes-Coral merger. The bookmaker was disappointed to have had its larger bid turned down by Ladbrokes and Coral governance in favour of a lower combined £55.5 million cash bid by …

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Betfred & Stan James pick up Ladbrokes & Coral offcuts

The merger of Ladbrokes Plc and Gala Coral is almost good to go after the bookmakers revealed that 359 betting shops of its combined retail portfolio will be sold to Betfred (322 shops) and Stan James (37 ). The sale of the betting shops is conditional upon the approval of the UK Competition and Markets Authority (UK CMA) and will be …

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Betfred to win Ladbrokes-Coral UK betting shop portfolio bid

The Irish Independent has reported this weekend that Betfred is set to win its bid to acquire 360 betting shops from the £2.3 billion Ladbrokes-Coral merger. The Manchester-based firm is reported to have pipped Irish independent bookmaker Boylesports for the Ladbrokes-Coral retail inventory which was put up for sale in order to meet UK CMA competition standards.    As the …

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The Final Chapter? Ladbrokes-Coral to merge this week…

The Sunday Times expects the £2.3 billion Ladbrokes-Coral merger to be confirmed this week, with the operators agreeing to sell between 350 and 400 betting shops. Ladbrokes governance cancelled this week’s business presentation by CEO Jim Mullen, in which its leader would further outline the firm’s business strategy under his stewardship. Updating stakeholders, the company has decided to defer Mullen’s …

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Exceptional costs sees Coral report £25 million losses ahead of Ladbrokes merger

Publishing what will likely be its last financial update as a private company, Gala Coral (Coral) has reported top-line metric growth hindered by significant exceptional costs as the company approaches its £2.2 billion merger with Ladbrokes Plc. Updating the market on its Q3 2016 performance (12-week period ending 2 July), Coral would declare net revenues of £264 million up 10% …

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Betfred closes in on Ladbrokes-Coral betting shops

The Sunday Times has reported that Betfred is nearing a deal to buy hundreds of betting shops, as the Ladbrokes-Coral merger enters the final stages of its UK Competition and Markets Authority (CMA) review. As part of its merger completion, Ladbrokes-Coral has been forced to sell a significant number of betting shops in order to secure UK competition approval and …

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Last Ditch Stand: BHA declares concerns on Ladbrokes-Coral

As the Ladbrokes-Coral merger enters its twelfth month since its initial deal agreement , the new enterprise was dealt a blow as the British Horseracing Authority (BHA) raised its racing industry concerns to the UK Competition and Markets Authority (CMA). Scott Longley details a new conflict in one of the UK gamblings longest running sagas.    ____________________ The BHA would …

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