The merger of two of UK’s leading betting and gambling operators Ladbrokes and Gala Coral has finally been concluded. The merger was first announced in the summer of the 2015, and this year it was announced that the two companies would have to sell between 350 and 400 in order not to harm local competition in certain areas of the country.
Once the shops have been sold off, the companies were allowed to go through with the merger which has finally been announced. It should be noted that one of the two parties of this merger, Gala Coral, has been formed as a result of a previous merger between Gala Bingo and Coral Eurobet.
Right after the merger was announced, the newly formed entity published the names of the people that are going to serve in the Board of Directors, as well as the other positions. Carl Leaver will be serving as a new Executive Deputy Chairman, whereas Paul Bowtell will be the CFO.
Mark Pain, Stevie Spring will be on the Audit Committee. John Kelly, one of the most experienced people in the industry will be the first Chair of the Nomination Committee, joined by Mark Pain, Stevie Spring, Rob Templeman and Christine Hodgson.
Stevie Spring will be the chair of the Remuneration Committee and Mark Clair will be in charge of the Social Responsibility Committee. The CEO of Ladbrokes, Jim Mullen will remain CEO of the newly formed company.
John Kelly, the new Chairman stated that this deal brings together two of the most renowned and respected gambling and betting brands, adding that no other company has such a remarkable heritage. The merger, he feels, will allow the new company to fortify its strong presence both in the UK and overseas.