\u201cShops would close and it would mean people being made redundant,\u201d Alexander said.<\/strong><\/p><\/blockquote>\nConsolidation Rampant in Gaming Industry<\/strong><\/h2>\nThe takeover of Ladbrokes Carol is the third major move in five years for GVC, turning what was once a relatively small company into a global gaming power.<\/p>\n
It started in 2013, when the company purchased Sportingbet. That was followed by a \u00a31.1 billion merger with bwin.party in 2015 that has fueled GVC\u2019s growth over the past three years.<\/p>\n
That\u2019s only part of an industry-wide story. Even Ladbrokes Coral itself was the result of a November 2016 buyout in which Ladbrokes purchased Gala Coral for approximately $2.8 billion. \u00a0That year also saw Paddy Power and Betfair merge in a transaction valued at $7.6 billion.<\/p>\n
For GVC, this latest move will help the company continue its move from grey markets to fully regulated jurisdictions. It also provides a brick-and-mortar presence for a firm that was previously known for online brands including partypoker, bwin, Sportingbet, and Foxy Bingo.<\/p>\n
GVC has also been making smaller moves to complement its growth strategy. Earlier this month, the company announced that it had purchased a 51 percent stake in Georgian online gambling firm Crystalbet, with plans to purchase the remaining shares in the company in 2021.<\/p>\n","protected":false},"excerpt":{"rendered":"
GVC Holdings received nearly unanimous approval from its shareholders to proceed with a planned takeover of bookmaker Ladbrokes Coral, a transaction that will create one of the world\u2019s largest gaming entities. GVC first announced its intention to add Ladbrokes Coral to the group in December. The deal is just the latest sign that the global […]<\/p>\n","protected":false},"author":42,"featured_media":72581,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[62,10],"tags":[],"acf":[],"yoast_head":"\n
GVC Gets Shareholder Approval for Takeover of Ladbrokes Coral<\/title>\n\n\n\n\n\n\n\n\n\n\n\n\n\t\n\t\n\t\n\n\n\n\n\n\t\n\t\n\t\n