Ladbrokes and Gala Coral Merger Worth £2.3 billion

ladbrokes-coral-75x75The popular British sportsbooks Gala Coral and Ladbrokes agreed to a merger this past Friday whose value is £2.3 billion. This merged company called Ladbrokes Coral will create a business with a high street presence along with the chance to become one of the biggest players in the virtual gambling industry. Both companies have significant online operations. They run their own casinos with plenty of slots from Playtech software as well as other slot games from providers such as NetEnt, IGT and Barcrest. Ladbrokes will issue new shares to current Gala Coral shareholders that represent 48.25% of the new company. Existing Ladbrokes shareholders will own 51.75%.

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