Casino news continues to be full of mergers

Even as we approach the end of the year 2015 the general casino news is still full of all the talk surrounding mergers and acquisitions in the online casino industry which has kept people busy all year and many of the proposals are still not finalised such as the merger between Coral and Ladbrokes casinos. Casinos.ie reported only a matter of weeks ago that Dermot Desmond was trying to scupper this deal by suggesting that the proposed synergies which are sought in this deal could be lost when shops are forced to be closed but now Carl Leaver the chief executive of Coral denied that shareholders in Ladbrokes casino would lose out in any deal. Mr Leaver was coming from a strong position when announcing a rise in revenues for his company to £1billion and a slight rise in profits. Whilst admitting in the casino news that debt for the combined company would increase he suggested that strong cash flow could quickly reduce it. Probably the most interesting part of this deal for Ladbrokes casino is the digital business of Coral which includes the online casinos and other online gambling and where Coral is reporting a huge 62% rise in revenues. It is of course hoped that any expertise could help the online casino business of Ladbrokes although in the opinion of casinos.ie there is not much wrong with it as it stands. The casino news promises to be full of further news of this and other deals such as Paddy Power and Betfair well into 2016 and as usual casinos.ie will try to bring Irish casino players up to date with developments. This latest merger has of course not yet been approved but looks set to be and then it seems likely that we shall have a new name on the block in Paddy Power Betfair which is not very original.