GVC completes Ladbrokes Coral migration
GVC has hinted at further M&A opportunities after completing its largest ever transfer with the migration of its Ladbrokes Coral brands.
UK.- GVC Holdings has completed the migration of its Ladbrokes Coral brands to the group’s technology platform.
The sports betting and gambling company acquired Ladbrokes Coral in March 2018.
The latest move completes the migration of all the brands it purchased, including Ladbrokes, Coral, Gala Bingo, Gala Casino and Gala Spins.
The transfer was the largest the company has completed, with 25 million Ladbrokes Coral customer accounts now transferred to GVC’s proprietary platform.
The operator transferred 12.5 million accounts from Ladbrokes alone. It is expected to deliver £130million in annual synergies by late 2021.
COO Shay Segev said the transfer was completed on time and on budget, and left the company optimistic about future M&A opportunities.
Segev said: “The GVC integration model has proved itself time and again to be extremely effective at integrating large-scale operations with minimal disruption to our underlying business.
“As a result, we are confident in our ability to take advantage of the attractive M&A opportunities we believe will present themselves to us in the future, while further boosting the growth of our existing business.”
GVC reported a 2 per cent rise in full year net gaming revenue for 2019.
