The £2.3 billion Ladbrokes – Coral merger is expected to be confirmed this week, with the operators agreeing to sell between 350 and 400 betting shops.
Ladbrokes governance cancelled CEO Jim Mullen’s business presentation this week, in which the firm’s business strategy under his stewardship would have been further outlined. The company has decided to defer Mullen’s review to a later date.
The Ladbrokes – Coral merger, which was originally announced in June 2015, has now entered its final regulatory steps.
Following a review by the UK Competition and Markets Authority (CMA), both businesses have been forced to sell a significant portion of their retail betting inventory in order to meet UK fair competition standards.
The two operators’ governances have presented plans on their disposable retail assets. The bookmakers will now be granted the right to sell the inventory to a suitable buyer by the CMA.
In another update, it was reported that once the deal is finalized, Gala Coral senior management will be rewarded with a £50 million windfall.
Ladbrokes will also be showcasing at Malta’s biggest upcoming gaming event of the year, SiGMA16. If you would like to come and watch Ladbrokes and the many other exhibitors at this iGaming summit in November, click here to register.