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Ladbrokes lifted by Gala Coral results ahead of merger

Thu, 20th Aug 2015 08:07

(ShareCast News) - Ladbrokes has reported mixed results from Gala Coral Group, with which it is in the process of merging, with weakness at its retail and Italy-focused Eurobet arms but overall profits growth lifted by strong online performance.Total continuing group earnings before interest, tax, depreciation and amortisation (EBITDA) rose 8% to £65.7m, with the impact of an additional net £12.9m of tax and regulatory costs and tough comparison with a World Cup-boosted quarter last year.Coral's retail EBITDA was down 2% on the comparable year to £34.9m, with Eurobet particularly affected by the World Cup comparison with EBITDA down 30% to £3.7m.However, online earnings were up 28% to £17.1m.Gala retail, which is not merging with Ladbrokes, increased EBITDA 3.7% to £11.9m.Ahead of the proposed merger between Coral and Ladbrokes being put to the FTSE 250 group's shareholders, Coral chief executive Carl Leaver said the parties had "already opened dialogue" with the Competition and Markets Authority about the deal.He added that ignoring the tax and regulatory changes and the World Cup, underlying EBITDA was £22.6m or 52% ahead."This continued positive momentum is a direct result of our focus on product innovation and a disciplined approach to marketing, together with the significant capital investment made across the business over the last few years."Shares in Ladbrokes were up 2.3% to 107.7p by 0845 BST.
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26 Jul 2016 06:17

Ladbrokes/Coral must sell stores to get merger clearance - UK competition regulator

LONDON, July 25 (Reuters) - Bookmakers Ladbrokes and Gala Coral must sell around 350 to 400 shops in order to obtain clearance for their proposed merger, Britain's competition regulator said on Tuesday. The Competition and Markets Authority (CMA) said that a tie-up between Britain's second

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24 Jul 2016 14:20

UPDATE 1-888 and Rank Group join forces to bid for William Hill

(Adds background, share prices) By Paul Sandle LONDON, July 24 (Reuters) - Online gambling group 888 Holdings and casino operator Rank Group are joining forces with a view to making a bid for William Hill , the British bookmaker that fired its chief executive on Thursday for losing gr

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24 Jul 2016 11:10

Casino group Rank in merger talks with 888-Sunday Times

LONDON, July 24 (Reuters) - Casino operator Rank Holdings is in talks with online rival 888 Holdings about creating a 2 billion pounds ($2.6 billion) gambling group, the Sunday Times reported. Discussions between the companies were "relatively advanced" and an announcement could be made o

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22 Jul 2016 08:30

BROKER RATINGS SUMMARY: JPMorgan Ups Centrica, Cuts SSE, Severn Trent

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22 Jul 2016 07:21

LONDON BRIEFING: CRH And Vodafone Please Market With Positive Trading

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21 Jul 2016 11:07

UPDATE 2-William Hill seeks new boss to revive online growth

* Henderson leaves after two years as CEO * Financial chief to take interim charge * Shares rise 5 pct (Adds further quotes, analyst reaction, updates shares) By Paul Sandle LONDON, July 21 (Reuters) - Britain's William Hill has fired Chief Executive James Henderson aft

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11 Jul 2016 10:09

PRESS: Betfred Emerges As Favourite To Buy Ladbrokes-Coral Stores

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24 Jun 2016 14:34

EU Referendum Night Was Biggest Ever Betting Event For Ladbrokes

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8 Jun 2016 11:16

Gala Coral swings to loss amid Ladbrokes merger review

(ShareCast News) - Bookmaker Gala Coral Group swung to a loss in the first half of the year, it reported on Wednesday, posting a loss of £49.8m in the face of rising revenues. The firm, in the midst of a merger with FTSE 250 rival Ladbrokes, made a profit of £103.4m in the same period last year. In

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8 Jun 2016 06:53

Ladbrokes Says Coral Interim Earnings And Net Revenue Higher

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20 May 2016 19:09

Britain's bookies slash odds on UK remaining in EU - report

(ShareCast News) - Britain's high-street bookies are slashing the odds of the UK voting to remain in the EU, with an overwhelming number of punters now betting a Brexit will not happen, a report says. William Hill cut the odds on a remain vote for a third consecutive day on Thursday to 1/5, or an im

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20 May 2016 16:00

Coca-Cola HBC leads Britain's FTSE share index higher

* Blue-chip FTSE 100 index ends 1.7 pct higher * Coco-Cola HBC rises after Citigroup upgrade * Ladbrokes gains after competition regulator decision By Kit Rees LONDON, May 20 (Reuters) - Britain's top share index ended sharply higher on Friday, with bottling company Coca-C

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20 May 2016 15:58

LONDON MARKET CLOSE: UK Stocks Rise As US Rate Hike, Brexit Fears Cool

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20 May 2016 10:55

LONDON MARKET MIDDAY: Ladbrokes Gains On Light Merger Remedies

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20 May 2016 10:41

UPDATE 1-Ladbrokes, Coral need to sell shops to win deal clearance - CMA

* CMA says 350-400 shop disposals needed for clearance * Remedies not as onerous as feared * Ladbrokes shares up 10 pct (Adds Ladbrokes, Coral comment, analyst reaction, shares) LONDON, May 20 (Reuters) - Bookmakers Ladbrokes and Gala Coral will have to sell between 350 and 40

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