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Betfred Set to Win Ladbrokes-Coral UK Betting Shop Portfolio Bid

Betfred Set to Win Ladbrokes-Coral UK Betting Shop Portfolio Bid

It has been reported that Betfred is set to win its bid to acquire 360 betting shops from the £2.3 billion Ladbrokes-Coral merger.

It is thought that Betfred has beaten Boylesports for the shops which were put up for sale in order to meet UK CMA competition standards. As the merger between the two bookmakers comes into its final stages Betfred’s bid is the front runner to land the shops beating Boylesports bid of €118 million.

At present Betfred has 1,370 betting shops and the acquisition would increase this to around 1730. Betfred’s founder Fred Done quickly made it clear that he intends to purchase the Ladbrokes-Coral shops and it seems he will be successful. It is thought that an official announcement will be made in the coming days and once this happens the merger between Ladbrokes and Coral can be quickly completed.

OCA News Editor

Jenny McKinnley is OCA’s financial correspondent. After spending years on the trading floor in both NY and London, she offers insight from the inside out on world financial news and events.

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