June 16, 2015

New player in Ladbrokes takeover?

As Royal Ascot begins this week the bookies will be hoping for a bonanza with William Hill alone expecting to turnover some £30 million alone over the next five days of racing.

Indeed there are two major racing calendar days the bookies look forward to, The Cheltenham Festival and Royal Ascot. This year mobile gambling will be the enjoy the biggest increase in betting as the platform offers punters the quickest opportunity to place a bet.

With the new POC tax from the UK government and betting shops on the decline suffering from the huge increase in online betting companies such as Ladbrokes are hoping for a very good week. Also the latest rumours on Ladbrokes are that a private consortium for £1.6billion or Paddy Power will show their hand and make a formal offer some time shortly after the Ascot meeting.

Insiders believe that the private consortium could trump Paddy Power in acquiring Ladbrokes with a bigger offer and also at the same time a solid focus on strengthening its online presence. It is not clear who is leading the consortium bid but rumour has it that it is a former senior executive from Ladbrokes.

With new Ladbrokes boss Jim Mullen’s strategy for the business to be announced at the end of June which is likely to focus on its digital and online operations, this will be the time when an offer is most likely to be made.

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