GVC Holdings Acquisition of Ladbrokes Coral OnTrack

Published Thursday, January 18, 2018 - Online-Casinos.com
GVC Holdings Acquisition of Ladbrokes Coral OnTrack

The acquisitions and merger story has been told many times and each time it looks as if one company may eventually own all of the online gambling opportunities. The agreement reached by GVC Holding and the Ladbrokes Coral firm at the end of last year is an example of the never ending story of the big entities getting even bigger.

Ladbrokes Coral agreed to a buyout by GVC Holdings for around £4bn should FOBT stakes be limited to £50, with the offer dropping to £3.2bn if the limit is £2. GVC Holdings PLC is a multinational sports betting and gaming group incorporated in the Isle of Man.  GVC has four business segments with a number of leading brands; Sports Labels (bwin, Sportingbet, gamebookers), Games Labels (partypoker, partycasino, Foxy Bingo, Gioco Digitale, CasinoClub), B2B and non-core assets. The Group also acquired bwin.party digital entertainment plc in 2016.

GVC chief executive officer Kenneth Alexander said back when the story broke, describing the deal as "a truly exciting prospect." Alexander also said, "The creation of one of the world's largest listed sports betting companies, combining a portfolio of established brands, proven technology and leading market positions in multiple geographies, is a truly exciting prospect.

“In a dynamically evolving industry, the transaction creates an enlarged group with the scale, diversity, proprietary technology and management expertise to pursue many opportunities globally.

“GVC has a proven track record of creating shareholder value through the successful integration of acquired businesses and the GVC board believe this transaction will create further value for our shareholders and those of Ladbrokes Coral."

Both firms agreed, the group will be “a fast-growing, diversified, international online and retail sports betting led gaming group with more than 90% of net gaming revenue generated from locally regulated/taxed markets.”

A recent update revealed Ladbrokes Coral will publish a scheme document containing details of the deal that will be sent out to its shareholders next month for consideration.

 

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