Two of Britain’s largest betting operators, Ladbrokes and Coral, today completed their £2.3bn merger.
Although the two companies are going to operate so customers still deal with them individually, the merger makes the combined company Britain’s biggest betting operator with more than 3,500 betting shops.
Ladbrokes Coral chairman John Kelly said: “In uniting these two businesses we are bringing together some of the best-known and admired brands in betting and gaming.”
He believes that no other gambling business “has such a strong heritage, with brands that enjoy such broad appeal and a presence that is woven into the fabric of the UK culture as well as overseas regulated markets.”
Jim Mullen, Ladbrokes Coral chief executive, added: “This is a historic day for the company and one which marks the start of an exciting journey for the business. Both Ladbrokes and Gala Coral have demonstrated their ability to compete hard and win in increasingly competitive markets.”
Carl Leaver, Ladbrokes Coral executive deputy chairman, said: "The team at Gala Coral has worked tirelessly to turn around the fortunes of the company over the last few years, and the business has been transformed into one of the best performing in the sector.”
Leaver said the merger makes the company’s ambition of creating the UK’s leading betting and gaming business a reality under the leadership of Jim Mullen.
