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Ladbrokes and Gala Coral Partnership in the Works?

Ladbrokes and Gala Coral Partnership in the Works?

Written by: Glo Wood on 25/06/2015 15:50
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Ladbrokes previously attempted a merger with bingo giant Gala Coral but according to the publication, Interactive Investor, it seems that they are going to give it another shot.

Jim Mullen, MD of Ladbrokes Digital, said, "Since becoming CEO my focus has been on a more aggressive plan to build digital scale and grow our recreational customer base across all channels, which is key to creating a more sustainable and growing Ladbrokes. My plans are well advanced and I look forward to presenting them to shareholders."

A previous partnership deal was avoided as there was concern that combining the companies could hurt the industry competition.

"The rise of online and mobile gambling has increased the size of the marketplace and a merger will now still leave a plethora of competing players," said Accendo Markets' Augustin Eden. "Ladbrokes needs to match its rivals in the tech game, Coral's bored of bingo - a streamlined marriage of the two (and combined re-listing) should be seriously considered by those with voting rights. Investors are already betting on it."

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