At the third attempt, GVC Holdings managed to absorb one of its competitors, the largest UK bookmaker Ladbrokes Coral. At the current exchange rate, the value of the transaction can be $5.35 billion (£4 billion).
All on Red
Owners of brands Bwin, Sportingbet, and PartyPoker expand the sphere of influence and create a direct competitor to the largest player in the market - The Stars Group. The other day GVC Holdings finally got the consent to merge from Ladbrokes Coral. This was already the third attempt. Formerly, the bookmakers did not like the price of the deal.
According to experts, the new company will save up to 100 million pounds a year on operating expenses. President of GVC Holdings Kenneth Alexander is very pleased with the deal.
How Did Ladbrokes Coral Manage to Earn £800 million in 2016?
It's very simple - the company literally flooded the UK with its Fixed Odds Betting Terminals
(FOBTs) and earned 800 million only from them. Thanks to them, Ladbrokes dethroned William Hill and even prompted the government to tackle the problem of ludomania among the population. Max bet in these machines reached 100 pounds and people lost too much but still continued to play.
An interesting fact: the final amount of the Ladbrokes Coral and GVC Holdings merger depends on the decision of the UK government regarding FOBTs in January 2018. They want to greatly reduce the maximum bet which is projected to be between 2 and 10 pounds.
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