Bookmaker Betfred had won betting shop portfolio bid from Irish company Boylesports. Now Betfred owns several hundreds of betting shops of Ladbrokes and Coral that have to sell 35-400 betting shops in order to finish the merger.
It is expected that Betfred will become the owner of 360 betting shops of Ladbrokes and Coral, as The Irish Independent informs.
The company Betfred, located in Manchester, was the main bidder for purchase of betting shops of bookmakers preparing for final merger. In December 2015 the founder and the owner of Betfred Fred Done declared that his company is ready to purchase 500 betting shops.
At the beginning of August 2016, the Irish bookmaker Boylesports
put its bid for purchase of 360 betting shops of Ladbrokes and Gala Coral. Boylesports proposed £100 million (more than $132 million).
Now Betfred has 1370 betting shops in the UK. In 2011 the company bought the chief British totalizator The Tote for £265 million ($341.5 million as for the present exchange rate).
Earlier, Ladbrokes and Gala Coral agreed to comply with the demands of British gambling commission to sell 350-400 of their betting shops.
Ladbrokes and Gala Coral declared about their intention to merger their enterprises in June 2015. New company is assessed by $ 3.5 billion.