ladbrokes-coral-sells-shops-to-betfred-and-stan-james

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Ladbrokes-Coral sells shops to Betfred and Stan James
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17 October 2016
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Ladbrokes and Coral have actually consented to sell 359 shops to rival betting companies in what they say is the "last significant hurdle" for their ₤ 2.7 .

Betfred, owned by billionaire Fred Done, will buy 322 shops and Stan James the other 37 for a total of ₤ 55.5 m.
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Competition regulators ruled in July that Ladbrokes and Coral should bet9ja's welcome offer 350-400 look for their merger to be cleared.

The Competition and Markets Authority (CMA) will now examine the yohaig code shop offers, external.

Jim Mullen, the primary executive of Ladbrokes, stated: "The sale of these shops will clear the last considerable obstacle to delivering on the merger with Coral and leads the way for our focus on completion and rapidly delivering on the opportunities the merger uses."

The two bookmakers stated they would seek approval from the CMA to complete the merger once they bet9ja's welcome offer one additional store.
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Market leader

Ladbrokes and Gala Coral are the UK's second and third biggest retail betting firms, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.
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A merger in between the two would make them the UK's largest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to keep up with the yohaig code competitors and bolster its online offering.

It was widely reported, external over the weekend that William Hill plans to push ahead with the ₤ 4.5 bn bet9ja's welcome offer in spite of misgivings from its biggest shareholder.
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Ladbrokes-Coral need to sell 350-400 stores

26 July 2016
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William Hill investor snubs merger plan
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14 October 2016

Investors - Ladbrokes plc
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