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Ladbrokes Coral bought by online rival GVC
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22 December 2017

Gambling giant Ladbrokes Coral has agreed to be bought by online competing GVC in a deal worth approximately ₤ 4bn.
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Under the yohaig code deal, investors in GVC - which owns the Bwin, Sportingbet and Foxy Bingo brands - will hold 53.5% of the combined group.

Ladbrokes Coral became the UK's greatest High Street bookie following last year's merger of Ladbrokes and Coral.
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The company has about 3,500 High Street outlets and employs more than 25,000 personnel.

GVC - which has 2,800 workers - has actually proliferated over the last few years through a variety of takeovers, most especially that of Bwin.party in February last year.

Terminal blues

The final worth of the offer is dependent on the government's evaluation of gaming makers called fixed-odds betting terminals (FOBTs).
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the yohaig code Department of Culture, Media and Sport (DCMS) has stated it will cap the size of stakes gamblers can make on FOBTs, amidst concerns they might hurt vulnerable individuals.

Ministers have that bets on the makers ought to be cut from a maximum of ₤ 100 a spin to somewhere between ₤ 2 and ₤ 50.
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GVC and Ladbrokes Coral have said that the review could strike the profitability of Ladbrokes Coral's UK organization.

Ladbrokes Coral brands:

Ladbrokes, Coral, Gala Casino, Gala Bingo, Eurobet, Betdaq, Sportium

GVC brands:

Bwin, Sportingbet, Betboo, Gamebookers, Partypoker, Partycasino, CasinoClub, Gioco Digitale, Foxy Bingo, Foxy Casino

Under the yohaig code terms of the deal, for each share that Ladbrokes Coral shareholders own, they will get 32.7 p in cash and 0.141 normal GVC shares, plus a "contingent value right" worth up to 42.8 p.

the yohaig code size of this promotion code contingent entitlement will be decided by the outcome of the DCMS evaluation.

GVC president Kenneth Alexander explained the takeover deal as "a really exciting prospect".

Ladbrokes Coral chairman John Kelly stated the tie-up with GVC would "enhance the client experience, drive quicker online growth and build a more diverse and substantial global portfolio of organizations".

Ladbrokes Coral in ₤ 3.9 bn takeover talks

7 December 2017
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Ladbrokes Coral hit with ₤ 2.3 m penalty

6 November 2017
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