bet9ja.com
Ladbrokes Coral in talks over takeover by GVC
Gambling giant Ladbrokes Coral is in "comprehensive" talks over a takeover by online competing GVC over an bet9ja's welcome offer that could value the group at up to ₤ 3.9 bn.
bit.ly
Under the proposals, GVC - which owns the Bwin and Sportingbet brand names - would hold 53.5% of the combined group.
bet9ja.com
The optimum rate GVC will pay will depend upon the outcome of the federal government's review of gaming machines.
Ladbrokes Coral shares leapt 23% on news of the talks, while GVC's were up by 4%.
The Department of Culture, Media and Sport has said it will cap the size of stakes gamblers can make on fixed-odds betting terminals, amidst concerns they might damage vulnerable individuals.
GVC and Ladbrokes Coral stated that the review could influence on the success of Ladbrokes Coral's UK service.
bet9ja.com
Under the proposed deal, GVC will pay 160.9 p for each Ladbrokes Coral share, which would value the business at ₤ 3.1 bn.
bet9ja.com
However, if the outcome of the government's evaluation of video gaming terminals is beneficial to the gaming industry, and enforces a higher limitation on fixed chances bets, then GVC will pay Ladbrokes Coral shareholders a so-called "contingent value right" (CVR) of up to 42.8 p per share. When added to the original payment, this promotion code could value the business at approximately ₤ 3.9 bn.
The takeover of Ladbrokes Coral could proceed before the federal government reveals the result of its review. Following the result, GVC would then pay the CVR to Ladbrokes Coral shareholders.
bit.ly
GVC and Ladbrokes Coral have actually previously held speak about a takeover, however they broke down.
bet9ja.com
"GVC got fortunate at the third effort and Ladbrokes Coral investors can count their earnings," stated Neil Wilson, senior market analyst at ETX Capital.
bit.ly
"Whilst this promotion code deal was constantly likely, many had actually thought GVC would wait till the federal government's triennial review of fixed odds betting terminals was finished before it would occur."
bet9ja.com
The "tie-up has actually constantly made good sense", he added.
Isle of Man-based GVC "has little financial obligation and has the global and fast-growing online existence, Ladbrokes Coral has the physical footprint, High Street name and sports book".
Under takeover guidelines GVC now has until 4 January to decide whether to make a company deal for Ladbrokes Coral or to withdraw.
Government to review betting devices
bet9ja.com
24 October 2016
Paddy Power advises wagering maker decision
1
Ladbrokes Coral in Talks over Takeover by GVC
qlaoctavio9219 edited this page 2025-10-18 10:19:14 +00:00