The UK government has enacted the law that will cut the maximum stakes on gaming machines in the UK retail market from £100 to £2 from 1 April 2019. Paradoxically, this is very positive news for GVC as the bookmaker would have owed former Ladbrokes shareholders £700m if the law was enacted after 27 March 2019, given the terms of the CVRs used to structure the Ladbrokes deal. As a reminder, GVC launched a bid on Ladbrokes in December 2017, before the outcome of the regulatory
19 Dec 2018
GVC’s £700m winning bet
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GVC’s £700m winning bet
Entain PLC (ENT:LON) | 796 0 0.0% | Mkt Cap: 5,083m
- Published:
19 Dec 2018 -
Author:
Edouard Enault -
Pages:
2
The UK government has enacted the law that will cut the maximum stakes on gaming machines in the UK retail market from £100 to £2 from 1 April 2019. Paradoxically, this is very positive news for GVC as the bookmaker would have owed former Ladbrokes shareholders £700m if the law was enacted after 27 March 2019, given the terms of the CVRs used to structure the Ladbrokes deal. As a reminder, GVC launched a bid on Ladbrokes in December 2017, before the outcome of the regulatory