Email Facebook Twitter

London South East - Oil & Gas Investor Evening: Malcy, Echo, Savannah, SDX
Paul Welch speaks at London South East's Oil & Gas Investor Evening

ShareCast News

Playtech drops on Ladbrokes Coral/GVC deal

Thu, 7th Dec 2017 12:49

(ShareCast News) - Shares in gambling software company Playtech fell after Ladbrokes Coral said it is in advanced talks with GVC Holdings about a possible takeover of the bookmaker, amid concerns about the implications of the deal on its contract with Ladbrokes, for whom it provides online platforms.

Commenting on the deal news, Shore Capital said in a note: "We would highlight Playtech. At this stage we are uncertain of the potential impact on one of its most important licensees although note its stake in Ladbrokes Coral is worth approaching 80p per share."

Earlier, GVC Holdings confirmed it is in advanced talks with Ladbrokes Coral about a possible 3.9bn takeover depending on the outcome of the government's gaming machines review.

GVC, which is listed on the FTSE 250 with a market cap of under 3bn, said the possible offer would see it offer a mix of cash and shares, plus a further value of up to 42.8p structured as a 'contingent value right' determined by the outcome of the government's triennial review into gaming machines in the bookmaking industry.

Based on these terms, GVC shareholders would hold roughly 53.5% and LCL's 46.5% of the enlarged business.

At 1545 GMT, Playtech shares were down 2.5% to 824.50p.

Related Shares:

Back to ShareCast News

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.