Tag Archives: dermot desmond

Entain Plc has confirmed the sale of the online betting exchange Betdaq to former owner Dermot Desmond for an undisclosed fee.  The FTSE100 gambling group issued a one-line statement, informing media of its divestment of Betdaq to the Irish billionaire financier and horseracing magnet. Desmond retakes control of Betdaq, a venture the businessman backed in the early 2000s, during the …

Ladbrokes-owned betting exchange BETDAQ plans to offer its customers a commission-free deal on all sports on Boxing Day. BETDAQ traders will be entitled to 0% commission on a variety of top flight football fixtures, including the matchup between London rivals Arsenal and Chelsea, as well as the annual Boxing Day Test Match between Australia and India at the world famous …

Irish finance magnet Dermot Desmond has invested £1.3 million (€1.5 million) in London AIM listed igaming systems provider GAN. Updating the market, GAN governance revealed that Desmond’s IIU Nominees (IIU) had purchased +3 million shares in the firms new share placement. Desmond’s purchase sees IIU take an approximate 5% equity in GAN. GAN governance stated that the funds would be …

Irish billionaire Dermot Desmond appears to have lost any chance of halting the merger of Ladbrokes and Gala Coral as the UK Takeover Panel has rejected his appeal regarding the influence of gambling technology provider Playtech on the deal. Desmond who owns 2.8% of Ladbrokes Plc shareholdings had appealed to the Takeover Panel regarding the disclosure of an agreement which …

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 …

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 …

Despite Dermot Desmond’s last ditch attempt to derail its £2.2 billion merger with Gala Coral, Ladbrokes shareholders are reported to have voted in favour of the deal this morning. London business news sources report that 90% of Ladbrokes Plc investors backed the merger, despite hearing Desmond’s arguments against its progression. Furthermore Ladbrokes governance rejected Desmond’s appeal for a second merger …

Having launched a scathing attack on Ladbrokes £2.2 billion planned merger with Gala Coral, which saw the publication of saynotocoral.com, Irish financier Dermot Desmond is set to further argue his concerns regarding the merger at a Ladbrokes investor meeting to be held this Tuesday in London. Desmond, who holds a 2.8% company stake, and his public attack against the merger highlighted …

Ladbrokes has moved to counter the call by Dermot Desmond for shareholders to reject its proposed merger with Coral by reiterating the rationale behind the deal. In a message to the stock market, Ladbrokes’ board said that it ‘noted’ Desmond’s letter and acknowledged that it had had ‘significant dealings’ with him as both a shareholder and a commercial partner over …