October 20, 2009

Ladbrokes to buy Tote?

Despite Ladbrokes being reported as struggling on the London Stock Exchange in recent weeks, there is hope on the horizon for worried investors. The bookmakers are reportedly looking into buying the Government owned bookmakers, Tote.

There have been many previous attempts to sell the tote in the past, however further attempts to sell the business were put on the back burner in October 2008 due to the declining economic environment.

Recently talks of selling the tote have rekindled once again with Ladbrokes being just one of the big named gambling companies looking into buying the currently nationalized company.

William Hill who has regained their stock price lead above Ladbrokes is another company looking into a deal. William Hill has already moved their online operations out of the UK along with Ladbrokes. More companies looking into buying tote include Paddy Power and the Gala Coral group.
The consolidation of the online gaming industry has been a priority in the last few months for some companies as many of the larger players are buying out smaller competitors.

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