GVC completes Ladbrokes Coral acquisition
The company announced that it has completed the acquisition of Ladbrokes Coral on March 28th.
UK.- GVC Holdings announced on its website that it has completed the acquisition of Ladbrokes Coral Group PLC. The deal was announced in December 2017, when GVC agreed to acquire the group in a £4 billion deal.
The enlarged Group has a workforce of c.28,000 people and with a network of 3,500 bookmaking shops operating under the separate Ladbrokes and Coral brands, becomes the UK’s largest high street bookmaker.
Kenneth Alexander, CEO of GVC said: “The creation of one of the world’s largest listed sports betting companies, combining a portfolio of established brands, proven technology and leading market positions in multiple geographies, is a truly exciting prospect. In a dynamically evolving industry, the transaction creates an enlarged Group with the scale, diversity, proprietary technology and management expertise to pursue many opportunities globally.”
“GVC has a proven track record of creating shareholder value through the successful integration of acquired businesses and the GVC Board believe this transaction will create further value for our shareholders and those of Ladbrokes Coral,” he added.
