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GVC Holdings Plc, a gaming holding company, announced the full redemption of the Ladbrokes Coral bookmaker after the merger was approved by the High Court of England and Wales.
An initial bid of £3.2bn, representing a government judgement of a £2 maximum spin, could potentially rise to £4bn, should that FOBT figure be £50.
In a deal widely labelled as “bold and ambitious,” those close to the negotiating table have consistently stated the enlarged organisation would create “a fast-growing, diversified, international online and retail sports betting led gaming group,” and “the outright UK gambling market leader”.
The importance of geographic diversification is a key dynamic given the evolving regulatory backdrop. Thus the acquisition of Ladbrokes Coral Group represents an exciting opportunity, bringing together industry-leading online and retail brands. There will be plenty of hard work ahead, but we are confident that GVC will deliver once again”, – commented GVC CEO Kenneth Alexander.
