Ladbrokes gets funds facility for Gala Coral deal

Picture: Getty
Picture: Getty
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BOOKMAKER Ladbrokes has signed a £1.35 billion funding facility with banks to fund its proposed tie-up with Gala Coral.

The two firms sealed an all-share merger deal in July, creating a £2bn-plus betting group that will look to build on its dominance of the UK high street to expand its online business. As a result of the financing, Gala Coral’s debt will not be transferred into the new group, to be called Ladbrokes Coral.