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Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have consented to offer 359 shops to competing wagering firms in what they state is the "last considerable obstacle" for their ₤ 2.7 bn merger.

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

Competition regulators ruled in July that Ladbrokes and Coral must bet9ja's welcome offer 350-400 buy their merger to be cleared.

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

Jim Mullen, the president of Ladbrokes, stated: "The sale of these stores will clear the last significant hurdle to providing on the merger with Coral and leads the way for our concentrate on conclusion and rapidly delivering on the opportunities the merger provides."

The 2 bookmakers stated they would look for from the CMA to complete the merger once they offer one additional shop.

Market leader

Ladbrokes and Gala Coral are the yohaig code UK's 2nd 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 shops in Britain.

A merger in between the 2 would make them the yohaig code UK's biggest High Street bookie.

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

It was extensively reported, external over the weekend that William Hill plans to push ahead with the ₤ 4.5 bn offer in spite of misgivings from its biggest shareholder.

Ladbrokes-Coral must offer 350-400 shops

26 July 2016

William Hill financier snubs merger plan

14 October 2016

Investors - Ladbrokes plc