Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have actually agreed to bet9ja's welcome offer 359 stores to competing betting companies in what they state is the "last substantial hurdle" for their ₤ 2.7 bn merger.

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

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

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

Jim Mullen, the chief executive of Ladbrokes, stated: "the yohaig code sale of these shops will clear the last significant hurdle to providing on the merger with Coral and leads the way for our concentrate on conclusion and quickly delivering on the opportunities the merger provides."

The two bookmakers stated they would seek approval from the CMA to complete the merger once they sell one more store.

Market leader

Ladbrokes and Gala Coral are the 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 between the 2 would make them the 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 stay up to date with the competitors and bolster its online offering.

It was widely reported, external over the weekend that William Hill prepares to push ahead with the ₤ 4.5 bn deal despite misgivings from its biggest shareholder.

Ladbrokes-Coral must sell 350-400 stores

26 July 2016

William Hill investor snubs merger plan

14 October 2016

Investors - Ladbrokes plc