Ladbrokes Coral Bought By Online Rival GVC > 자유게시판 개인전용 문제은행

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Ladbrokes Coral bought by online rival GVC

22 December 2017

Gambling huge Ladbrokes Coral has consented to be purchased by online rival GVC in an offer worth approximately ₤ 4bn.

Under the deal, 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.

The business has about 3,500 High Street outlets and utilizes more than 25,000 staff.

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

Terminal blues

The of the offer is dependent on the federal government's review of gaming machines called fixed-odds betting terminals (FOBTs).

The Department of Culture, Media and Sport (DCMS) has said it will cap the size of stakes gamblers can make on FOBTs, amid concerns they may damage susceptible people.

Ministers have proposed that bets on the devices must be cut from a maximum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

GVC and Ladbrokes Coral have stated that the review could strike the success of Ladbrokes Coral's UK business.

Ladbrokes Coral brands:

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

GVC brand names:

Bwin, Sportingbet, Betboo, Gamebookers, Partypoker, Partycasino, CasinoClub, Gioco Digitale, Foxy Bingo, Foxy Casino

Under the terms of the deal, for each share that Ladbrokes Coral shareholders own, they will get 32.7 p in cash and 0.141 ordinary GVC shares, plus a "contingent worth right" worth approximately 42.8 p.

The size of this contingent privilege will be decided by the outcome of the DCMS evaluation.

GVC chief executive Kenneth Alexander explained the takeover deal as "a genuinely interesting possibility".

Ladbrokes Coral chairman John Kelly stated the tie-up with GVC would "improve the customer experience, drive faster online development and build a more varied and comprehensive international portfolio of companies".

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