DraftKings CEO Jason Robins said that a possible merger between his company and FanDuel is a “very interesting idea” that could add value for shareholders and provide customers with a better service at a better cost. But he declined to rate the chances of it happening after recent reports of merger discussions between the two daily fantasy sports rivals. “I don’t really have much more insight into how likely or not likely that would be,” Robins told USA TODAY Sports Saturday. “I certainly haven’t changed my view on how interesting it is.” United as one or not, Robins still said he sees…

Ian Bull, chief financial officer of Ladbrokes, has opted to sell his stake in the UK bookmaker ahead of its proposed merger with rival gambling operator Gala Coral. As reported by iGaming Business, Ladbrokes and Gala Coral last month stated they were closing in on a deal that will lead to the creation of a business worth approximately £2.3 billion (€3.4 billion/$3.6 billion). Although the deal is yet to be finalised, global investment banking firm Jefferies last week warned of the potential challenges that the merger could create. Jefferies’ suggestion that Coral is “not a perfect fit” to help Ladbrokes…

Ladbrokes has announced the completion of its proposed merger with rival operator Gala Coral, in a deal that will lead to the creation of a business worth approximately £2.3 billion (€3.2 billion/$3.6 billion). Both businesses expect the newly branded ‘Ladbrokes Coral’ operation to boast net revenue of £2.1 billion as well as earnings before interest, tax, depreciation and amortisation of £392 million, excluding cost synergies of at lest £65 million. Under the merger agreement, Ladbrokes will issue new ordinary shares to the existing shareholders of Gala Coral representing 48.25% of the new combined entity, while existing Ladbrokes shareholders will own…

Ladbrokes has opted to delay a planned business review presentation due to the ongoing talks over a possible merger with rival operator Gala Coral. As reported by iGaming Business, both parties confirmed last week that they had begun discussions over the possibility of merging to form a larger operation. The proposed deal would involve Ladbrokes and Gala Coral-operated Coral Retail, Eurobet Retail and the company’s online business. Ladbrokes was due to make a business review presentation of its own tomorrow (Tuesday), but has now opted to defer this until further notice. Upon announcing the delay, the bookmaker also confirmed that…

Ladbrokes and Gala Coral confirmed in separate statements late yesterday (Monday) evening that they are in talks over a possible merger. The two parties said that the proposed deal would involve Ladbrokes and Gala Coral-operated Coral Retail, Eurobet Retail and the company’s online businesses. The Financial Times newspaper reported that the talks are not at an advanced stage and there remain issues over the price and the corporate structure of the merged operation, although Ladbrokes chief executive officer Jim Mullen would lead the combined group. Ladbrokes said that the proposed new group would seek a listing on the main market…

Shares of Las Vegas-based casino operator Wynn Resorts ended Thursday’s trading day up over 7%, making it TheStreet’s Move of the Day. The reason was merger speculation. TheStreet’s Jim Cramer, portfolio manager of the Action Alerts PLUS Charitable Trust Portfolio, noted on CNBC there is speculation of a Wynn merger with Las Vegas-based competitor MGM Resorts International. Wynn’s first-quarter earnings, released in late April, included earnings per share of 70 cents, falling short of the consensus estimate. Revenue slumped almost 28% year over year to $1.09 billion. Revenue from Wynn’s Macau properties, a major casino hub in China, dropped nearly…