Ladbrokes gets funds facility for Gala Coral deal
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.