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Ladbrokes and Gala Coral betting completed the merger process and combined assets

Ladbrokes and Gala Coral officially merged

About this news press service of the new company Ladbrokes Coral reported.

It is noted that before the completion of the merger, Ladbrokes company was renamed as Ladbrokes Coral Group on October 31, 2016.

The deal on combination Ladbrokes’s and Gala Coral’s assets entered into force on November 1, 2016. This combination includes Coral Retail and Eurobet Retail divisions, as well as Gala Coral online business.

“This is a historic day for the company. Ladbrokes and Gala Coral have demonstrated the ability to win in the growing competitive markets.”

“We have a strong team, and we worked hard on in order to get the best talents within and outside the business. We all are excited about future prospects,” Jim Mullen, Ladbrokes Coral Director General said.

Carl Leaver, Ladbrokes Coral Deputy Chairman noted that the merger would bring new opportunities. The new company would intend to become the UK leading betting and gambling operator.

The 27th of October brought to public the final approval of this merger from the UK CMA.

CMA previously approved the sale of 359 Ladbrokes and Coral betting shops to Betfred and Stan James betting companies for £ 55.5 million (more than $ 67 million).

Ladbrokes and Coral announced about the  combining of their assets on June, 2015. Thus, the merger process took one and a half year.

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