Deal!: GVC Agreed to Purchase Ladbrokes Coral for £4 Billion

Online betting giant GVC Holdings is closing out the year in style with the announcement of coming to a deal to purchase Ladbrokes Coral for a whopping £4 billion.

The deal has been accepted by Ladbrokes Coral's board of directors, and will come down to votes by shareholders and approval from regulatory bodies alike. It's expected that GVC will hold 53.5% of the combined group if and when the deal finalizes in the first half of next year. The merger will create a huge company, as GVC already holds bwin, Sportingbet, and Foxy Bingo brands.

GVC willl pay out at least £3.2 billion, with the possibility of £4 billion being paid out should certain performance benchmarks be met.

GVC's CEO Kenneth Alexander spoke about the deal in a release, revealing: "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."

This deal will be massive in size, and we'll update readers as more developments arise.

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bgsharpe
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25 December 2017 - 2:13pm
#1

Probably the main deal in this calendar year in the gambling world as a whole not just the online business, so we will see what's the effect of that over the market generally.

caWaroftheGods
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27 December 2017 - 5:19am
#2

HOLY SMOKES, 4 billion, thats is absolutley insane how much some of these online casinos are worth these days

idbossulo
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28 December 2017 - 6:53am
#3

I ask where they go after buying GVC? Of course there will be a new policy on their management, Like some other sites

krcoolsongss
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28 December 2017 - 10:42am
#4

Will this deal allow me to play in Ladbroke ? Joking
My account was closed by their country policy change Smile