Bookies to stake £520m in bid war - Tuesday 12th of April 2005

Bookie, William Hill is expected to launch a £520m bid this week for Stanley Leisure's 620 betting shops. But Coral Eurobet, the third biggest bookmaker behind Ladbrokes and William Hill, is understood to be planning a rival bid in the next couple of weeks, according to company insiders.

William Hill, headed by chief executive David Harding, announced last week that it was in exclusive talks with Stanley Leisure. But that period of exclusivity expires at the end of this week.


Coral is not the only company interested in the shops, which are based mainly in the North East, Scotland and Ireland. Northern bookmaker Fred Done told Financial Mail on Sunday he would be in the running if William Hill failed to cement a deal. Rank Group is also in the frame.


But if William Hill agrees a deal with Stanley Leisure, it faces a battle to win the backing of shareholders, who were expecting a £453m cash return from the company.

One shareholder said: 'The deal looks pricey and there is a lot of risk. We thought that Harding had more financial discipline than this, but it looks like he's keener on building an empire than creating shareholder value.'

Other news from around the same time

nickels to millions, slots evolve over 100 years in Nevada - Tuesday 12th of April 2005

Five cents was a good bet in 1905, when Nevada recognized slot machines."A nickel was considere....


Tabcorp hold free online gaming licences - Tuesday 12th of April 2005

The Tasmanian Government says an amendment to gaming laws has allowed Kerry Packer's PBL and the gam....


Singapore moves into next round of selecting casino operators - Tuesday 12th of April 2005

Singapore has invited gaming operators to come up with detailed proposals for two casino resorts in ....


Riverboat struggle with tax increase - Tuesday 12th of April 2005

Though the state's share of revenue from Illinois' riverboat casinos increased slightly last year, m....


Former British fortress to host one of Singapore's casino resorts - Tuesday 12th of April 2005

A former British colonial fortress which has been struggling to succeed as a theme park and beach re....


Now Singapore has entered the lucrative world of casinos - Monday 23rd of January 2006

Now that Singapore has entered the lucrative world of casino-resorts, what form should they take? Th....


SunCruz confirms its Hollywood shutdown - Tuesday 12th of April 2005

SunCruz Casinos confirmed on Friday that it will halt operations at Martha's restaurant in Hollywood....


Playtech introduces U.K. style Bingo - Tuesday 12th of April 2005

Playtech launched a new UK-style, 90 ball online bingo game this week that complements its establish....


New payment processor: UKash - Tuesday 12th of April 2005

Well known online gambling e-cash processor Proc Cyber Services Limited seems to be involved in a ne....


Integrated resort on Sentosa need not be an iconic landmark: Sun International - Tuesday 12th of April 2005

South Africa's gaming operator Sun International thinks the integrated resort on Sentosa need not be....