Betfred set to beat Boylesports to Ladbrokes and Coral shops
Betfred is expected to beat rival bookmaker Boylesports to the purchase of 360 betting shops being sold off in the UK by Ladbrokes and Gala Coral.
The land-based sites have been made available in preparation for the pending merger between Ladbrokes and Coral, which will result in a combined company worth approximately £2.2 billion (€2.5 billion/$2.9 billion).
According to the Irish Independent newspaper, although Boylesports made a bid of €118 million earlier this year to acquire the shops, industry sources have said that Betfred is now the more likely to take ownership.
William Hill has also been linked with a possible bid for the land-based sites.
Earlier this month, Ladbrokes and Coral agreed to sell the shops in response to a demand from the UK Competitions and Markets Authority (CMA), which had raised concerns over the planned merger.
The CMA said the deal could create competition concerns in 642 locations across the UK, and that the sale of shops would help even out competition.
Related article: Ladbrokes, Coral agree to shop sales ahead of proposed merger