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The great merge is at the gates

11 Oct 2017

alexander GVC have tried to redeem the Ladbrokes Coral twice in the recent past, but both efforts have failed to come to an agreement. According to the Financial Times newspaper reports, things look to be different and both sides are closer than ever to a final deal.

Is is believed that GVC and Ladbrokes Coral have already decided even on the shape of a new executive board and team.

The deal is coming at the same time with the UK regulatory review as we mentioned on the "Government review of FOBTs to define GVC move on Ladbrokes Coral" on 26th of September. All the big bookmakers in the sector such as William Hill, Paddy Power Betfair, The Stars Group, 888 Holdings, Rank Group and Jackpotjoy have already made plans to keep the largest possible market share in the new conditions.

David Jennings, head of leisure research at Davy, the Irish wealth managers, told the Financial Times: “After the review, it won’t be the commencement of talks, it will be the continuation of them,”

Kenny Alexander, GCV Chief Executive Officer said: “Strategically, the organic growth potential remains exciting and through further product development and increased marketing investment we are well placed to pursue these opportunities. However, we operate in an industry where regulation and increased taxation present headwinds and these are best addressed through scale and diversification. The combination of our people, proprietary technology and proven M&A track record, means GVC is well positioned to play a significant role in the industry's ongoing consolidation.”

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The great merge is at the gates

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