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Ladbrokes and Gala Coral agree merger to form £2.3bn gaming giant

24th July 2015 6:40 am GMT

Ladbrokes and Gala Coral confirmed Friday that they have agreed a proposed recommended merger to form Ladbrokes Coral plc, with the enlarged £2.3bn entity looking to become a more effective competitor in the gambling market.

The merger will combine Ladbrokes online and land-based business with certain divisions of Gala Coral including its Coral Retail, Eurobet Retail and Gala Coral online businesses (the Coral Group).

The new entity will generate annual net revenue of £2.1bn, with EBITDA of [...]

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