Ladbrokes and Gala Coral Discussing a Merger

Ladbrokes plc released a statement on Monday that confirmed the company is in talks with the board of Gala Coral Group Limited regarding the possibility of a merger between Ladbrokes and Coral Retail, Eurobet Retail and Gala Coral’s Online.

"In light of this development, the Business Review presentation scheduled for 30 June may be re-scheduled depending on how discussions progress," said the statement.

Jim Mullen, CEO Ladbrokes plc, 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.”
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    This can be really huge deal for both companies. Ladbrokes is all ready famous name across most of the sports betting gamblers but like Jim Mullen their new CEO said their aim in grow of recreational customer base which will make a more sustainable and growing Ladbrokes. I think that says it all but obviously the last word will be from the shareholders.

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