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GVC Holdings makes £3.9b play for Ladbrokes Coral Group

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GVC Holdings makes £3.9b play for Ladbrokes Coral Group

UK-listed online gambling operator GVC Holdings is making another run at acquiring rival Ladbrokes Coral Group.

 

On Thursday, GVC Holdings announced that its board of directors and their counterparts at Lads Coral were engaged in “detailed discussions regarding the possible combination of the two businesses” after GVC submitted its latest proposal to acquire Lads Coral’s entire share capital.

GVC’s offer, the total value of which could top out at £3.9b, offers Lads Coral shareholders 32.7p in cash and 0.141 ordinary GVC shares for each Lads Coral share.

A further value of up to 42.8p would be structured as a contingent value right (CVR) dependent on how severe the UK government plans to restrict the use of fixed-odds betting terminals in Lads Coral betting shops.

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Assuming all proceeds as planned, GVC anticipates that its shareholders would end up holding 53.5% of the enlarged entity, with Lads Coral shareholders holding the rest. The parties have agreed that GVC CEO Kenny Alexander would head up the enlarged group, with the rest of senior management roles to be decided over the next few weeks.

Lads Coral investors hailed the news, as the company’s shares were up nearly one-third to 178p at time of writing. GVC’s shares are up a more modest 6.6% to 966p. UK takeover rules require GVC to announce by January 4 whether it plans to make a firm offer for Lads Coral.

This is GVC’s latest attempt at a Lads Coral takeover, with the most recent effort having fallen apart in August, reportedly due to concerns over GVC’s exposure to grey- and black-markets, including Turkey. GVC eliminated that obstacle last month via the sale of its Turkish-facing business.

GVC said the addition of Lads Coral’s operations would boost its share of revenue from regulated online markets to nearly 90%, which would eliminate much of the uncertainty surrounding the company’s future in some of these regulatory iffy markets (although GVC’s flagship betting brand Bwin is particularly reliant on its operations in legally sketchy Germany).

A union of this magnitude would necessitate significant staff reductions, or ‘synergies’ as they’re known to the people not headed for the exits with the photos of their loved ones in a banker’s box. Staffers at both companies are likely reducing their Christmas shopping budgets as we speak.

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GVC has a good track record with mega-deals, having successfully turned around the underperforming Bwin.party digital entertainment brands after acquiring the group a couple years ago. But that deal involved only online gambling companies, while Lads Coral has a significant retail presence, an area in which GVC has little experience.

It also remains to be seen what a GVC-Lads Coral union would mean for gambling tech provider Playtech, which has years left on its deal to power Lads Coral’s online and retail gaming ops. Playtech shares are currently down 3% on the day.…

The post GVC Holdings makes £3.9b play for Ladbrokes Coral Group appeared first on Eastern European Gaming – News – Interviews – Legal Market Updates – Premium Reports – Events – Directory.


Source: EEGaming.

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Bradley Khoury

eCOGRA Approved to Operate in Arizona, Indiana and Panama

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eCOGRA, a leading international authority in Testing, Inspection and Certification services for the iGaming industry, has secured new regulatory approvals across three key jurisdictions: Arizona, Indiana and Panama. With these developments, eCOGRA strengthens its position in the U.S. and Latin American markets, offering excellence in compliance through their Quality, Speed, and Service promise.

This strategic expansion allows eCOGRA to conduct independent compliance audits and certification services in each region, addressing the growing demand for rigorous regulatory oversight in the fast-evolving global iGaming industry.

Securing approval in Arizona, where eCOGRA has now been licensed as an Event Wagering Ancillary Supplier, enables the International Testing Laboratory (ITL) to audit event wagering licensees in line with Arizona’s expanding regulatory landscape. Indiana, which introduced online sports betting in September 2019, has authorised eCOGRA to perform regulatory compliance audits, providing licensed operators with crucial assurance in meeting the state’s high standards.

In Panama, the Board of Gaming Control officially recognised eCOGRA as an Authorised Entity for Compliance Certification, specifically for slot machines and gaming software. This endorsement reinforces eCOGRA’s role as a trusted partner for operators seeking to meet stringent regulatory requirements in Latin America’s emerging iGaming sector.

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“Our recent approvals in Indiana, Arizona, and Panama underline our dedication to continually expand our offering, to support our growing portfolio of clients with their global growth plans. We are committed to ensuring that we bring the same quality, speed and service that marks us out to both our clients and regulators in these dynamic markets,” said Will Shuckburgh, Group CEO of eCOGRA.

Bradley Khoury, Chief Technology Officer at eCOGRA, said: “Securing licensure as an Event Wagering Ancillary Supplier in Arizona and an Authorised Entity in Panama underscores our dedication to supporting responsible and sustainable iGaming operations. We are committed to driving trust and accountability within the industry by providing compliance solutions that uphold the highest standards.”

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BetConstruct

BetConstruct to Showcase Latest Innovations at G2E Las Vegas 2024

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BetConstruct, a global leader in the iGaming industry, is going to showcase its cutting-edge solutions at the highly anticipated Global Gaming Expo (G2E), taking place from October 7-10.

As the premier event for the global gaming industry, G2E serves as a hub for innovation, driving growth by bringing together industry professionals from around the world to foster business opportunities.

Taking place at The Venetian Expo in Las Vegas, this all-in-one event features both an education program from October 7-10 and an expansive expo hall running from October 8-10.

BetConstruct’s stand is 5230, where the team will showcase an exciting range of products, including the newly launched the Last Battle, a novel loyalty system that is the byproduct of BetConstruct’s commitment to innovation. The company will also demonstrate its comprehensive Sportsbook and Casino Suite, along with DECA, its next-level decentralised casino platform, and Umbrella, an AI-powered risk management solution. These offerings are designed to meet the needs of a diverse range of operators, ensuring seamless and engaging experiences for players across the regulated market.

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Amusnet

Amusnet Sets the Stage for Global Gaming Excellence at G2E Las Vegas

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Amusnet has announced its participation in the 23rd edition of G2E Las Vegas (Global Gaming Expo) at The Venetian Expo from October 7-10. As one of the largest expos globally, G2E provides a platform for the company to showcase products across its Online Casino, Live Casino, and Land-based verticals, positioning Amusnet as a prominent all-casino provider in the competitive iGaming industry.

“We are excited to attend G2E Las Vegas 2024 to present our latest online casino portfolio and Type S slot cabinets: our first-ever product series for Land-based casinos, designed to offer a competitive edge by combining Amusnet’s top-notch game portfolio with an immersive player experience. Our focus is on delivering solutions that maximize performance and cater to the evolving needs for both online and land-based casinos,” said Borislav Marinov, Head of Business Development, Land-based, at Amusnet.

Alongside its technical excellence, the premium Type S series showcases the company’s award-winning titles, including 20 Golden Coins, Extra Crown, Fruits & Gold, and Cocktail Rush. It also features Amusnet’s popular four-level bonus game, Jackpot Cards, along with other exciting features like Free Spins, Buy Bonus, Pick Me Bonus, and Symbol Upgrade.

Amusnet will host an activation featuring its premium slot cabinets at the upcoming expo, offering attendees the opportunity to experience the thrill of Type S in real time and win exciting gifts.

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