ladbrokes-coral-bought-by-online-rival-gvc

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Ladbrokes Coral bought by online competing GVC

22 December 2017

Gambling huge Ladbrokes Coral has actually agreed to be purchased by online competing GVC in an offer worth up to ₤ 4bn.

Under the offer, shareholders in GVC - which owns the Bwin, Sportingbet and Foxy Bingo brands - will hold 53.5% of the combined group.

Ladbrokes Coral became the UK's biggest High Street bookmaker following in 2015's merger of Ladbrokes and Coral.
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The company has about 3,500 High Street outlets and more than 25,000 staff.

GVC - which has 2,800 staff members - has grown quickly over the last few years through a variety of takeovers, most notably that of Bwin.party in February last year.

Terminal blues

the yohaig code final worth of the deal depends on the yohaig code government's evaluation of gaming makers called fixed-odds wagering terminals (FOBTs).

The Department of Culture, Media and Sport (DCMS) has stated it will cap the size of stakes gamblers can make on FOBTs, in the middle of issues they may harm susceptible individuals.

Ministers have proposed that bets on the devices need to be cut from an optimum of ₤ 100 a spin to someplace in between ₤ 2 and ₤ 50.

GVC and Ladbrokes Coral have said that the review might hit the success of Ladbrokes Coral's UK company.
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Ladbrokes Coral brand names:

Ladbrokes, Coral, Gala Casino, Gala Bingo, Eurobet, Betdaq, Sportium

GVC brand names:
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Bwin, Sportingbet, Betboo, Gamebookers, Partypoker, Partycasino, CasinoClub, Gioco Digitale, Foxy Bingo, Foxy Casino

Under the regards to the deal, for each share that Ladbrokes Coral shareholders own, they will get 32.7 p in cash and 0.141 common GVC shares, plus a "contingent value right" worth approximately 42.8 p.
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the yohaig code size of this promotion code contingent privilege will be chosen by the outcome of the DCMS review.

GVC president Kenneth Alexander described the yohaig code takeover offer as "a really exciting prospect".
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Ladbrokes Coral chairman John Kelly stated the tie-up with GVC would "enhance the customer experience, drive faster online growth and build a more diverse and comprehensive international portfolio of services".

Ladbrokes Coral in ₤ 3.9 bn takeover talks

7 December 2017
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Ladbrokes Coral struck with ₤ 2.3 m charge

6 November 2017