Following completion of his one year fixed term of appointment, Carl Leaver has stepped down as a Director of Ladbrokes Coral Group plc. In accordance with the Companies Act of 2006, Mr Leaver will receive his current salary, pension and benefits up until 31 October 2017 but will not receive any further fixed pay, notice pay or severance after this …
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Following 18 months of negotiations, the merger of Ladbrokes and Coral has finally been completed, with the new enterprise officially adopting the corporate name of Ladbrokes Coral Plc. Issuing a short statement, Ladbrokes governance confirmed its official merger completion this morning: “Ladbrokes plc announces it has today changed its name to Ladbrokes Coral Group plc. The merger is expected …
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Publishing its trading update for Q4 2016 (12-week period ending 25 September), Gala Coral expects to report an 8.9% group net revenues uplift on corresponding 2015 performance. In what may likely be its last financial update as an independent gambling operator, Gala Coral stated that its performance had been driven by the continued growth of its digital division, which reported …
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Publishing what will likely be its last financial update as a private company, Gala Coral (Coral) has reported top-line metric growth hindered by significant exceptional costs as the company approaches its £2.2 billion merger with Ladbrokes Plc. Updating the market on its Q3 2016 performance (12-week period ending 2 July), Coral would declare net revenues of £264 million up 10% …
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As UK gambling operator Gala Coral Group (Coral) prepares for its £2.3 billion merger with rival Ladbrokes, the company presented its latest H1 2016 results (28-week period ending 9 April), reporting core metric growth throughout all its products. Despite its strong core metric performance, Coral would report H1 interim losses of £49 million as the company looks to reduce its …
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Updating the market on its Q1 2016 performance (16 week ending January 2016), Gala Coral Group (Coral) have reported net revenues of £333.3 million representing a £47.1 million or 16% uplift on Q1 2014 performance. After adjusting for regulatory impacts, Gala Coral governance reported Q1 2016 EBITDA of £23.1 million or 59% ahead of last year. Improved football results contributed significantly …
Read More »The British Horseracing Authority has dismissed Coral’s offer for a flat 7.5% of its online and retail horseracing profits, labelling it an an “unrealistic realistic starting point” on the grounds that it would generate less for the sport than existing arrangements. The latest clash between racing and the bookmakers has been caused by the introduction of the Authorised Betting Partner …
Read More »Gala Coral CEO Carl Leaver has issued UK racing stakeholders a revised offer regarding the betting industry’s continued row over the disputed ‘authorised betting partner’ (ABP) policy. Leaver’s Coral betting enterprise has yet to commit to the ABP program, on Tuesday the CEO stated that his firm would “happily pay a levy of 7.5% on their winnings” relating to horse …
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As with comedy, timing is everything in business. While there is a logic to the recent outbreak of consolidation within the gambling industry, for two of the mega-deals currently underway – the Paddy Power Betfair and Ladbrokes Coral mergers – the coincidence of the deals is providing onlookers with some choice compare and contrast examples. ____________________________ Last week was an …
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Carl Leaver CEO of Gala Coral Group has dismissed claims that the creation of Ladbrokes-Coral will only favour Coral stakeholders. Having announced Gala Coral’s year to date performance which saw the operator record EBITDA earnings of £205 million, Leaver dismissed the recent criticisms of Ladbrokes investor Dermot Desmond. The Irish investment magnet had made scathing criticisms regarding Ladbrokes governance woeful …
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