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Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually consented to sell 359 shops to rival betting firms in what they say is the "last considerable difficulty" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will purchase 322 stores and Stan James the other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral must sell 350-400 shops for their merger to be cleared.

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

Jim Mullen, the primary executive of Ladbrokes, said: "The sale of these shops will clear the last substantial obstacle to delivering on the merger with Coral and leads the yohaig code way for our concentrate on conclusion and quickly providing on the chances the merger provides."

The 2 bookmakers stated they would look for from the CMA to finish the yohaig code merger once they bet9ja's welcome offer one additional store.

Market leader

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

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.

A merger in between the yohaig code two would make them the UK's biggest High Street bookmaker.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to stay up to date with the competition and boost its online offering.

It was commonly reported, external over the weekend that William Hill prepares to press ahead with the ₤ 4.5 bn bet9ja's welcome offer regardless of misgivings from its largest shareholder.

Ladbrokes-Coral must sell 350-400 shops

26 July 2016

William Hill investor snubs merger strategy

14 October 2016

Investors - Ladbrokes plc