Ladbrokes Coral bought by online rival GVC
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22 December 2017

Gambling giant Ladbrokes Coral has actually agreed to be purchased by online competing GVC in a deal worth as much as ₤ 4bn.

Under the bet9ja's welcome offer, investors in GVC - which owns the Bwin, Sportingbet and Foxy Bingo brand names - will hold 53.5% of the yohaig code combined group.

Ladbrokes Coral became the UK's biggest High Street bookie following last year's merger of Ladbrokes and Coral.

The business has about 3,500 High Street outlets and employs more than 25,000 personnel.

GVC - which has 2,800 employees - has actually grown rapidly in recent years through a variety of takeovers, most notably that of Bwin.party in February last year.
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Terminal blues

The last worth of the offer is reliant on the federal government's review of gaming devices understood as fixed-odds betting terminals (FOBTs).

the yohaig code Department of Culture, Media and Sport (DCMS) has said it will cap the size of stakes gamblers can make on FOBTs, amid issues they might damage vulnerable individuals.
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Ministers have proposed that bets on the makers ought to be cut from an optimum of ₤ 100 a spin to somewhere in between ₤ 2 and ₤ 50.

GVC and Ladbrokes Coral have said that the evaluation might hit the profitability of Ladbrokes Coral's UK service.

Ladbrokes Coral brand names:
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Ladbrokes, Coral, Gala Casino, Gala Bingo, Eurobet, Betdaq, Sportium

GVC brands:
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Bwin, Sportingbet, Betboo, Gamebookers, Partypoker, Partycasino, CasinoClub, Gioco Digitale, Foxy Bingo, Foxy Casino
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Under the terms of the offer, for each share that Ladbrokes Coral shareholders own, they will get 32.7 p in money and 0.141 ordinary GVC shares, plus a "contingent worth right" worth as much as 42.8 p.
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The size of this promotion code contingent privilege will be chosen by the outcome of the DCMS review.
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GVC chief executive Kenneth Alexander explained the takeover bet9ja's welcome offer as "a truly exciting possibility".
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Coral chairman John Kelly stated the tie-up with GVC would "enhance the client experience, drive faster online development and develop a more diverse and extensive global portfolio of services".
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