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The proposed merger between Ladbrokes Coral and GVC Holdings could potentially have a negative impact, costing as many as 1,600 people their jobs, about 5% of the combined workforce of the two groups.
Most of the jobs will be head office and support positions, although Ladbrokes CEO Jim Mullen could be pushed out of his spot. The two groups agreed to a merger in December of 2017 for a whopping £4 billion purchase price. The purchase has to go through regulatory approval, and the agreement is being investigated by the UK CMA (Competition and Markets Authority) because of the lessening of competition in the country.
The jobs being cut will be a PR blow for the merger, and the investigation into the lack of competition will also put some dings in the process. Still, the merger is expected to be completed later this year.
Casino Listings will update readers as merger details emerge.