Playtech confirms £220 million 6.7% stake in Ladbrokes Coral Group
LeapRate has learned via regulatory filings that Playtech has indicated that it remains one of the largest shareholders of Ladbrokes Coral Group.
According to the filings, Playtech owns 127,763,501 shares of Ladbrokes worth today £220 million (or about USD $295 million). That represents a 6.67% holding in Ladbrokes, making Playtech one of the largest outside shareholders of Ladbrokes. Ladbrokes is also a client of Playtech, employing some of its software in its online gaming platforms.
Playtech itself has a market cap of £2.7 billion, making the Labrokes holding a fairly important one for the company.
Ladbrokes Coral Group recently confirmed that it is renewed acquisition talks with rival GVC, as the UK-centric gaming and sports betting world continues to consolidate.
Playtech acquired much of its stake in its client Ladbrokes back in 2013 from Schroders, at the time Ladbrokes’ largest shareholder. Ladbrokes shares are at about the same level today that they were when Playtech first acquired them more than four years ago.