High street bookmakers, Ladbrokes and Coral, have opened up talks about a possible merger. If successful it would create the biggest retail-bookmaker in the UK. However, previous attempts to do so were knocked back by the UK’s monopolies commission.
The talks are to discuss whether the companies could bring together Ladbokes, Coral retail, Eurobet retail and Gala Coral’s online betting into one giant firm. The combined assets would be listed on the London Stock Exchange.
Commenting on the discussions taking place Ladbrokes CEO Jim Mullen said, “Since becoming CEO my focus has been on a more aggressive plan to build digital scale and grow our recreational customer base across all channels, which is key to creating a more sustainable and growing Ladbrokes. My plans are well advanced and I look forward to presenting them to shareholders.”
“A merger with Gala Coral could create a combined business with significant scale and has the potential to generate substantial cost synergies, creating value for both companies’ shareholders.”
“The Board has not yet concluded whether a transaction is strategically attractive and can be delivered to shareholders on appropriate terms.”