Ladbrokes-Coral sells shops to Betfred and Stan James

17 October 2016

Ladbrokes and Coral have agreed to offer 359 stores to competing wagering companies in what they say is the "last significant hurdle" for their ₤ 2.7 bn merger.

Betfred, owned by billionaire Fred Done, will buy 322 shops and Stan James the other 37 for a total of ₤ 55.5 m.

Competition regulators ruled in July that Ladbrokes and Coral need to bet9ja's welcome offer 350-400 purchase their merger to be cleared.

the yohaig code Competition and Markets Authority (CMA) will now examine the shop deals, external.

Jim Mullen, the president of Ladbrokes, said: "the yohaig code sale of these stores will clear the last substantial hurdle to delivering on the merger with Coral and paves the way for our focus on completion and quickly providing on the chances the merger provides."

The 2 bookmakers stated they would look for approval from the CMA to complete the merger once they sell one more store.

Market leader

Ladbrokes and Gala Coral are the UK's 2nd and third biggest retail betting firms, behind William Hill.

Ladbrokes has about 2,150 outlets in Britain and 77 in Northern Ireland. Coral runs 1,850 stores in Britain.

A merger between the 2 would make them the UK's largest High Street bookie.

However, William Hill is seeking its own tie-up with Canadian operator Amaya, owner of the PokerStars franchise, to keep up with the competition and bolster its online offering.

It was extensively reported, external over the yohaig code weekend that William Hill prepares to press ahead with the ₤ 4.5 bn bet9ja's welcome offer regardless of misgivings from its biggest shareholder.

Ladbrokes-Coral must sell 350-400 shops

26 July 2016

William Hill investor snubs merger strategy

14 October 2016

Investors - Ladbrokes plc