GVC bid for Ladbrokes Coral rebuffed

25 Aug 2017

ladbrokesCoralestGVC has seen their second bid rebuffed as they once again tried to gain control of Ladbrokes Coral. The gambling giant based on Isle of Man, had made an unsuccessful bids last year on the Ladbrokes Coral firm, as well as on British betting giants William Hill.

The first offer has been made by GVC, after Coral and Ladbrokes had announced their merge for £2.2bn.

GVC Holdings, already owns an extensive network of sports betting brands, like Bwin & Sportingbet and is trying to create the largest gambling company in the world. In light of that ambitious expectation they made a new bid up to £3.6bn to take over Ladbrokes Coral that currently hold over 3,500 betting shops.

According to sources from within the company, discussions about the deal have been terminated, due to issues over the value of both companies. What remains to be seen, is whether GVC will come back with a renewed offer, or if they will shift their interest elsewhere.

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Established in 1926, Coral is one of the most prominent betting brands among the UK and Irish bettors. It was one of the first that took advantage of the legislation changes, which led to its first betting office opening in 1961. Over the years, the ownership of the company has changed hands numerous times. Today, being part of the experienced Entain Group and holding multiple licenses create a feeling of safety and stability. Although the overall payout is below par, the horse, greyhound, and football sections are packed, with thousands of events and markets available every month. Among UK bookmakers, Coral had one of the smoothest transitions from high street to online betting. Nonetheless, there are a couple of areas I would like to see some improvements. Even though the website is easy to use, it does not keep up with the current gamification trends. It is evident that the bookie still mainly depends on the High Street Shops for revenue. Moreover, international expansion has not been prioritized, which is peculiar for a company of this caliber. I would like to see them accepting players from more countries in the near future. Overall, Coral remains a top choice for horse and football bettors in the UK and Ireland.

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