Ladbrokes casino deal still uncertain

As reported a couple of weeks ago in the online casino news Ladbrokes and Coral are trying to get together in a merger worth over €3 billion but Irishman Dermot Desmond is against it saying that the focus of the merger was high street shops where there is a lot of uncertainty about their future whilst online casinos are the growth area. Last week however there was a General Meeting where Ladbrokes announced that  over 96% of shareholders were in favour of the merger and as Mr Desmond holds 2.8% that leaves very few who are against but he believes that many have supported the motion out of frustration that nothing else was happening and that the online business of Ladbrokes was lagging other competitors although no specific reference was made to the online casino business. The main problem area is not online casinos at all but the fact that the Competition and Markets Authority in the UK would almost certainly demand that the group sell off a large number of shops thus reducing the income which shops generate. Mr Desmond has however refused to give up the fight and said he might turn his attention to a vote of confidence in the board for which he only needs 5% of shareholders to call an extraordinary general meeting and present the motion. It really has nothing to do with the online casino news but Corals Chief Operating Officer is none other than Andy Hornby who as former boss of HBOS has been in the news recently for all the wrong reasons associated with the collapse of the bank. It seems this story is set to run for a while yet so casinos.ie will keep track of what is happening and let Irish casino players know. In the meantime there is no reason to stop playing your favourite casino games at Ladbrokes casino.