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|Day's Range||130.60 - 134.60|
|52 Week Range||130.60 - 134.60|
|Beta (3Y Monthly)||N/A|
|PE Ratio (TTM)||N/A|
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In results reporting a 14 percent jump in quarterly net gaming revenue thanks to the soccer World Cup and gains in its online business, the company said Rob Wood has been appointed as deputy CFO and will take over from Bowtell in March. Wood is currently CFO of the Ladbrokes Coral UK Retail business, GVC's largest division after the merger.
LADBROKES Coral owner GVC suffered a “hangover” as the political furore over betting machines put off punters, the firm said today. The publicity around the Government’s triennial review of controversial “crack cocaine” machines - which has cut the maximum stake from £100 to £2 as of 2020 - “undoubtedly fed into customers’ spending on machines”, the company said. Around 1000 of Ladbrokes Coral’s 3500 shops will close when the tougher rules come into force.
Ladbrokes owner GVC has confirmed it will partner with MGM resorts on a US sports betting joint venture to take advantage of a huge new market. The US Supreme Court ruled in May that Congress had exceeded its authority by passing a 1992 law banning gambling on sports. The latest tie-up will see GVC, which owns Coral, Sportingbet, Foxy Bingo, Gala and Bwin, join forces with MGM, the company most famous for its Las Vegas casinos such as the MGM Grand and the Bellagio.
(Reuters) - Britain's Competition and Markets Authority (CMA) cleared online gambling firm GVC Holdings Plc's (GVC.L) acquisition of Ladbrokes Coral Group Plc (LCL.L) on Wednesday, saying the merger did ...
Online gambling company GVC (GVC.L) has given away its Turkey business, hoping the move will help smooth its takeover of Ladbrokes (LCL.L) after GVC's lenders baulked at its exposure to a country where internet betting is illegal. GVC had agreed on Nov. 2 to sell its business in Turkey for as much as 150 million euros ($186 million), before it struck the much bigger Ladbrokes deal worth at least 3.1 billion pounds ($4.3 billion). Ropso is backed by individuals that GVC said had provided IT services for its Turkish business.
The group, created by the merger of Ladbrokes and Gala Coral, declared a second interim dividend of 4 pence per share and said it does not intend to declare a final dividend for 2017. European retail net revenue grew 40 percent and accounted for 61 percent of total revenue, the company said in a statement.
The bookmakers said the limit, if confirmed, would result in job losses and shop closures, while campaigners urged the government to hold its nerve. The government said in October it would reduce the maximum stake on in-shop fixed odds betting terminals (FOBTs) to between 2 and 50 pounds from 100 to help tackle problem gambling after a consultation ending on Tuesday. William Hill and Ladbrokes Coral, which have the biggest presence on the high street, were dismayed.
GVC, the owner of the Sportingbet, Bwin and Foxy Bingo brands said it would pay 32.7 pence in cash and 0.141 new GVC shares for each Ladbrokes share. The precise final price depends on the outcome of a review into fixed-odds betting terminals (FOBTs), which are moneyspinners for companies such as Ladbrokes but have come under fire for leaving gamblers with heavy losses. Ladbrokes Coral -- which de-throned William Hill (WMH.L) as the country's largest bookmaker after merging with Coral last year -- made about 800 million pounds of revenue from gaming machines in 2016.
GVC Holdings Plc agreed to buy U.K. bookmaker Ladbrokes Coral Group Plc for as much as 4 billion pounds ($5.4 billion) as gambling companies seek greater scale in a business that’s shifting online.
Online gambling firm GVC (GVC.L) is nearing a deal to acquire British bookmaker Ladbrokes Coral (LCL.L) for as much as 3.9 billion pounds ($5.2 billion) and could announce it as soon as Friday, two sources familiar with the matter said. GVC, the owner of the Sportingbet, Bwin and Foxy Bingo brands, and betting shop operator Ladbrokes Coral disclosed on Dec. 7 that they were in "detailed discussions" about a possible cash-and-shares takeover, which would create a gambling giant that is expected to be big enough to enter the UK's FTSE 100 index. GVC, which is led by Kenny Alexander who would also take charge of the combined group, has until Jan. 4 to either make a firm offer for the bookmaker or walk away from a deal, under rules laid down by Britain's Takeover Panel.
Bookmaker GVC Holdings has offered to buy Ladbrokes Coral for up to $5.2 billion to create a global online and high street betting giant able to take on rivals and cope with a tougher regulatory environment. GVC, which boasts 79 million registered accounts and operates in 21 languages through names such as sportingbet and partypoker, previously bought bwin.party in 2016. The proposed takeover would give it access to the Ladbrokes, Coral and Gala brands and the combined company would compete with William Hill and Paddy Power Betfair.
GVC Holdings Plc is in advanced talks to acquire U.K. bookmaker Ladbrokes Coral Group Plc for as much as 3.9 billion pounds ($5.2 billion), as gambling companies seek greater scale in a business that’s ...