Big news in the gambling industry. Two gambling companies that are among the largest gambling companies in the world are merged. GVC takes over Ladbrokes Coral. This acquisition involves 4.5 billion euros. GVC shareholders will acquire 53.5 percent of the shares of the new combination.
For Ladbrokes Coral shareholders, there is 46.5 percent of the shares. GVC is the company behind BWin, among others. Just like Ladbrokes, BWin is active in Belgium.
Acquisition partly in cash and partly in shares
GVC’s takeover of Ladbrokes Coral looks like a merger, but GVC is in control. The majority of the shares are owned by GVC, while Kenneth Alexander, the big boss of GVC, takes the lead. GVC pays around € 233 per Ladbrokes Coral share. That is 19 percent above the value on the exhibition floor.
Part of the price is paid in GVC shares.
Ladbrokes Coral and BWIn had been discussing a possible merger for some time. Ladbrokes and Coral barely merged a year ago. The merger between Ladbrokes and Gala Coral involved around 2.5 billion euros. GVC and Ladbrokes Coral expect to save 125 to 150 million costs per year with this merger.
Ladbrokes Coral
Ladbrokes is one of the largest bookmakers in the UK with almost 3,700 betting offices. A total of 25,000 people work for Ladbrokes, including in the UK, Gibraltar and Israel. Ladbrokes is active in Belgium as an online casino and online bookmaker. It is the only internet casino where you can play on the slot machines of Playtech.
GVC Holding
GVC has made several acquisitions in recent years, including the acquisition of BWin.Party in February last year. 2,800 people work for GVC, spread over 15 offices around the world. Well-known brands of GVC are, in addition to BWin, also Party Casino, Sportingbet and Foxy Bingo. BWin is active in Belgium as an online casino and online bookmaker.
Several gambling companies are diligently looking for ways to increase their scale. For example, Betfair and Paddy Power previously merged. Leo Vegas took over the online casino Royal Panda.
The gambling market in the United Kingdom is under pressure, partly due to increasingly strict rules imposed by the British Gaming Commission and a possible ban on betting machines in the bookmakers’ offices. Quite a few acquisitions are also taking place outside the United Kingdom.
For example, Leo Vegas bought the Italian casino Winga this year. Scientifc Games bought game provider NYX Gaming. Kindred Group (known from Unibet) acquired 32 Red. Together with GVC, Ladbrokes expects to make a better fight against emerging parties such as Mr. Green and Leo Vegas. Ladbrokes’ management unanimously agreed to GVC’s offer, as this offer is seen as the best long-term option.
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