Would create world’s largest bookie
A decision is due momentarily on the proposed £2.3 billion merger of Ladbrokes and Gala Coral, now under consideration by the UK Competition and Markets Authority.
If approved, the merged company, Ladbrokes Coral, would be the biggest bookmaker in the world, a distinction now held by William Hill.
The new company would have to sell off many of its assets, from as few as 300 betting shops to as many as 1,000, according to the UK government. But Ladbrokes Chief Executive Officer Jim Mullen told Bloomberg News that excessive antitrust demands could undo the deal.
There is a point where it “becomes uneconomical,” he said, then added, “I don’t think that will happen.”
