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Ladbrokes Coral Merger in Finish

Oct 09, 2015
Ladbrokes Coral merger high street betting shops

The Ladbrokes Coral merger creates one of the biggest market players (Photo: Stephen Barnes)

By signing a USD 2.1 billion facility, the Ladbrokes Coral merger and liquidity in the first years of the new company was just ensured.

Ladbrokes signed a GBP 1.35/EUR 1.8 billion facility to fund the merger with rival land-based and online betting, bingo and casino operator Gala Coral Group, latest gambling news report. This facility will ensure the liquidity of the future company in its first years. The facility will be provided by the company’s partner banks for the Ladbrokes Coral merger.

Chief financial officer Ian bull said, “I am pleased that our relationship banks have shown strong support in putting in place a significant size facility at similar pricing to our current facilities.” He added, “We believe that this facility will provide sufficient liquidity to an enlarged Ladbrokes Coral group following the merger.”

British-based betting and gaming company Ladbrokes officially announced this summer that merger talks with rival Gala Coral group have started. Online casino news reported in July 2015 that an agreement on the deal was reached.

Reuters: Ladbrokes signs $2.1 billion facility to fund Coral deal

 
The facility has three tranches with the first, a GBP 600 million facility, becoming available in October 2016, after the Ladbrokes Coral merger happened. The transformed company is expected to take shape late 2015 or early 2016.

Ladbrokes Coral merger Jim Mullen CEO

Smugness justified: Jim Mullen about to become an even bigger CEO (Evening Standard)

The name of the new company will be Ladbrokes Coral. Ladbrokes chief executive Jim Mullen will be the new company’s CEO. Experts of gambling facts might know that Gala Coral group has a considerable debt. However this debt won’t be transferred to the new company after the Ladbrokes Coral merger.

Ladbrokes also ensured another deal recently. The online gambling firm became one of the official partners of the Australian National Basketball League (NBL). In the 2015-16 season, Labdrokes will be the official online sports betting partner of the NBL.

Ladbrokes was founded in 1886 and today is the largest betting company in the UK. It is also considered as the no. 1 retail bookmaker in the world with more than 2,400 retail betting shops only in the UK and Ireland. Ladbrokes operates several online sportsbooks in the UK, as well as online casinos, online poker rooms and online bingo sites.

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The week in pictures: October 7th -13th, 2014

Oct 15, 2014

Weekly news in pictures

The week between October 7th and 13th was another busy week around the globe, therefore plenty of news. Good news first:

Formula 1 made a comeback in Russia after 100 years. The Nobel Prize for peace was awarded to Kailash Satyarthi and Malala Yousafzai and the Honorary Dame Grand Cross was awarded to Angelina Jolie by the Queen Elisabeth II of Great Britain.

Moving onto the bad news, another country leader made the news by simply ‘showing up’; Kim Jong Un has made his first public appearance in 40 days. Awful news came from the health sector: a patient diagnosed with Ebola died in the US and another one just got infected in Spain. In Africa, hundreds are still dying. People have died in India as well due to Cyclone Hudhud and in Hong Kong, protesters were still marching for democracy.

The gambling news were interesting as well. Let’s take a look at the pics, first!

1. Singapore failed at choosing words in the campaign against gambling but succeed in banning gambling activities.

Singapore Gambling Ban

Clearly, the campaigners were not bettors… or football fans (Photo: Reuters)

2. The Trump name shall only be associated with ‘high standards of luxury’. It was decided in court that the famous surname will be removed from Trump Plaza and Trump Taj Mahal, now tapped out casinos.

Donald Trump removes Trump name out of casinos

Donald Trump maintains successful reputation (Photo: Timothy A. Clary/Getty)

3. Phil Ivey’s case of edge-sorting and exploiting casino’s failures was declared cheating, in court. The poker player will not have access to his winnings.

Phil Ivey lost trial

Phil Ivey lost GBP 7.7 million (Photo: ESPN)

4. Floyd Mayweather showed everybody that he is not only a good sportsman, but also a good sports bettor. And a very, very rich man.

Floyd Mayweather Betting Winnings

That’s how a ‘long count’ looks like outside the boxing ring (Photo: Daily Mail)

5. New and stricter gambling laws are expected in the Czech Republic. Foreign gambling operators are welcomed as well in a hope to boost tax revenues.

 Andrej Babiš gambling laws

Czech Finance Minister, Andrej Babiš announced new gambling laws (Photo: Jan Zatorsky)

6. New gambling laws, new taxes in the UK as well. The Court granted ‘green light’ for implementing the anticipated legal amendments, despite Gibraltar Betting and Gaming Association objections.

Judges on new gambling laws in UK

UK judges denied Gibraltar Betting and Gaming Association’s appeal (Photo: UPPA Ltd)

7. Ka-Ching! 350 people bought vintage gambling machines worth $2,381,700 at the Victorian Casino Antiques auction. The unique gambling items once belonged to the iconic Las Vegas Harrah’s Hotel and Casino.

Harrah's vintage slots machines auction

When in doubt, go vintage! (Photo: VCA Auction)

That was it for the past seven days. If you want to stay informed with the latest gambling news, read the Gambling Results’ top stories section!

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Blackjack High Roller Wins 2 Million From Tropicana Casino

Nov 22, 2011

blackjack high roller wins 2 million

Blackjack High Roller

While regular mortals either play free online blackjack or low limits at various online casinos, some play for millions.

Tropicana Casino, which prides itself on taming high rollers, and making them crawl home defeated and demoralized, took a drubbing at the hands of the blackjack master.

In April of this year Don Johnson, a famous blackjack high roller, beat various Atlantic City casinos for more than $15 million playing ultra-high limit blackjack card games. He return again in October for a second helping, deciding to visit Tropicana Casino, which fell victim to his elite black jack mastery of the card table in April to a tune of $5.5 million.

Tropicana Casino, which was hemorrhaging from the blackjack high roller’s advanced card counting prowess, had recovered a bit and its owner even sent out a challenge for Johnson to return.

‘The Beast of Blackjack’ or ‘The Atlantic City Assassin’, the nicknames that the world press has christened Don Johnson with, speak volumes of the pure fear that every casino pit boss feels in the pit of their stomach when the mighty blackjack master walks onto the casino floor.

The $5.5 million dollars that Johnson won at the Tropicana in a single day exploded his face and name on television and newspapers throughout the world. In essence making him as much of a star as his namesake, Don Johnson, the actor from Miami Vice episodes of the 1980s.

Return to Tropicana

In October, Johnson the blackjack high roller was back for more and nothing was going to hold him back from unleashing the power of the ancient gods of blackjack upon Tropicana.

He paid a visit yet again to the Tropicana Casino, located in New Jersey, and took $2 million in a death defying two day gambling spree at the blackjack tables. The blackjack high roller’s win was confirmed when Tropicana CEO, Mr. Tony Rodio, admitted that the casino was the victim of the Atlantic City assassin’s fury.

“I went back in and did very well,” the normally press shy Don Johnson stated to reporters. Not bad for two days work.
Source: Blackjack Champ: Blackjack Expert Don Johnson Wins $2 Million at Tropicana Casino

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Online Slot Winners – Three Gamblers in 2 Months at Windows Casino

Oct 06, 2011
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Windows online slot winners has been on fire for the past two months with the very popular Great Blue Video Slot hitting big three times for a total of almost half a million euros.

The last big win was on September 29, when one lucky player won € 207,116.00 which has been the largest of the three wins.

Many online casinos prefer to have progressive jackpots, part of networks which could transform one lucky player into a multi-millionaire, balancing it out with much smaller jackpots.

The philosophy of Windows Casino is to ensure that more players come away a winner rather than turning only one into a super-winner.

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The Great Blue video slot at Windows Casino has been hitting especially well over the past few months.

Great Blue is a 5 reel, 25 payline online video slot with an aquatic theme, great graphics and lots of chances to win big.

The other big hits have been on August 4th when Windows Casino paid out €89,446.00, and two weeks later on August 17th, when Great Blue exploded with €195,992.00.

Take a look at Windows Casino and pick up the deposit bonus and become one of online slot winners while Great Blue is hotter than fire.

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Investing and Gambling, What’s the Difference?

Jun 30, 2010

Gamblers are risk takers. Investors try to avoid risk. This simple fact alone might make it appear that the worlds of gambling and investing are miles apart. A closer look at the two, however, reveals more connections that one might think.

financial-diceOutcome unknown

Gambling is, by definition, a wager on an unknown outcome. If it takes place in land based casinos or in online gambling sites, whether the game is poker, blackjack, slots, or any other casino classic, gamblers never know how the game will end. Sometimes it is possible to make an “educated guess” about the outcome of, for example, a poker standoff; but other times, like in the case of online slots, everything comes down to pure luck.

In the financial realm, things are really not so different. Most investors don’t throw caution to the wind and put their money just anyplace. Instead, they research and project, trying to guess the future. There is the key word – guess. In the world of investing, like the world of gambling, money is being put towards an unknown outcome. The return might be great, or the move might bankrupt you – it is the goal of both the gambler and the investor to choose the right path.

Fun or profit?

One perceived difference between gambling and investing is that gambling is done for fun, while investing is a legitimate business. One look at the world of professional poker, however, is enough to crush this myth. There are people all around the world who make a living playing in online poker sites, or by putting money down on blackjack and building up wealth over time. Even slots players can hit big wins, like the record-breaking €6.3 million jackpot that was won in May of 2009 on the Mega Moolah progressive jackpot slot.

Investors might want to turn their nose up at “professional gamblers”, but in truth, both gamblers and investors work just as hard for their returns. From the point of view of the gamblers, their trade combines fun and profit, and poker pros might often wonder – “is investing this much fun?”

All about speed

Investing is a slow and laborious process. It can take years for a big investment to start paying off. Being a successful investor requires a great deal of knowledge, plenty of time, and most of all, quite a lot of patience.

A common stereotype of gambling, on the other hand, is that it is a quick and dirty way to get rich. This is both true and false. In the case of big jackpot wins like the €6.3 million Mega Moolah jackpot, lucky gamblers win a lot of money in a very short amount of time. After all, it just took one click of a mouse that player to go from zero to millionaire. But how many times did the player click before the big win happened?

Other games like blackjack or poker require just as much time as a long-term financial investment. Individual games might last just a few minutes or hours, but wealth is built up over long stretches of time. Just as investors must scrutinize each transaction from all possible angles before putting their hand in their pocket, poker pros must spend long hours playing, practicing, and perfecting their game before they can expect to win the big prizes.

Good versus Evil

One last alleged difference between gambling and investing that is worth mentioning is this: while investors are seen as hard-working and respectable businessmen, pro gamblers are often looked down upon as reckless thrill seekers. This social stigma against gamblers and gambling is completely unfounded. A poorly-planned, rushed investment has just as much potential to drive a person into severe debt as a misplaced bet, and investing can be just as addictive as gambling.

Moreover, while profits from the winning end of bad investments often end up in the pockets of individuals, gambling revenue is often filtered back into society. Governments around the world use gambling tax revenues to fund social campaigns and to create services for the good of everyone.

Conclusion

In the end, it is clear that the differences between investing and gambling are not so great. Investors gamble on their choices, and gamblers invest in their skills. Neither activity should be taken lightly – both require practice, knowledge, and patience if a person wants to excel and come out ahead.

Perhaps the real difference between gambling and investing is the people. Just as investing is not to everyone’s taste, gambling doesn’t give everyone the same thrills. Both are risky endeavors, and both can lead to either extreme wealth or severe debt. Whether you choose gambling or investing, let us leave you with one piece of advice: research, practice and play the odds, don’t trust your gut instincts!

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Jun 02, 2010

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Canada Internet Tax Targets Online Gambling, Porn, and Facebook Users

Apr 06, 2010
CanadaFlagGirl01The Canadian government will soon introduce a new tax law in an attempt to raise funds to cover Canada’s budget deficit. Its been dubbed as iTax, and it targets internet users.
The new system will require Canadian ISPs to monitor the internet usage, and tax users  depending on which websites they visit. “Sin sites” will be taxed heaviest, these sites involve pornography, social networking, or internet gambling in Canada.
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