Ladbrokes close to saying ‘yes’ to GVC acquisition

Talk about third time’s the charm.

UK-listed gambling operator GVC Holding is taking over rival Ladbrokes Coral Group for a sum of £3.9 billion ($5.2 billion).

Citing two industry sources, Reuters reported that Lads Coraland GVC are finally seeing eye-to-eye after the latter’s two failed attempts to acquire the British bookmaker in December 2016 and early 2017. According to the report, GVC and Lads Coral are close to agreeing the final terms of the deal, noting that the two firms are expected to make their formal announcement any time soon.

The talks between GVC and Ladbrokes come at a time when the betting industry braces itself for fixed-odds betting terminals (FOBTs) restrictions. FOBTs have been the bread and butter of some British bookmakers, including Ladbrokes.