GVC Holdings and Ladbrokes Coral Unable To Reach Deal

Published on 2017-08-22 22:12:00

According to a Financial Times report, the wave of consolidation in the UK online gambling industry nearly continued earlier this year after GVC Holdings and Ladbrokes Coral engaged in takeover talks for the second time.

According to the Financial Times (link below), the two sides were unable to complete a deal and talks have now broken off.

This is the second time that the two sides have held takeover talks, as they were unable to complete a deal last year after holding negotiations.

Due to rumored changes in UK gambling regulations, the online gaming industry has been undergoing a wave of consolidation in recent years.

Some of the deals that have been completed in recent years include GVC Holdings' takeover of Partygaming (parent company of partypoker) and the combination of Betfair and Paddy Power.

-

According to the Financial Times, the deal for Ladbrokes Coral would have valued the company at £2.7 billion, with escalators worth as much as £900 million more depending on the "outcome of the regulatory review".

Ladbrokes Coral is currently valued at roughly £2.3 billion.

GVC Holdings, which owns assets such as Bwin and partypoker, is valued at approximately the same amount (£2.26 billion).

-

I suspect that this isn't the last we hear of a possible GVC Holdings/Ladbrokes Coral combination.

Source: Financial Times - GVC made fresh £3.6 bn approach for Ladbrokes Coral

--

Filed Under: Random Poker News