Number Crunching – Ladbrokes tax charge and 32Red acquisition for Kindred Group

Number Crunching – Ladbrokes tax charge and 32Red acquisition for Kindred Group

Thursday, March 2, 2017 Posted by Luke Massey
A breakdown of some of the more interesting figures to emerge from the gambling industry in the past seven days.

£70 million - The amount that Ladbrokes has been charged in relation to an overturned HMRC ‘2008 tax avoidance’ scheme, after the group and its auditor Deloitte were found to have exploited a loophole to minimise the full-year tax bill.

£175.6 million - The value of Kindred Group's 32Red acquisition, which saw the online casino join the likes of Unibet, Stan James and Maria Casino within the multi-brand Kindred Group, formerly known as Unibet Plc.

£1.6 billion - The net revenue posted by William Hill for 2016, which exceeded the £1.59 billion for the previous year. The bookmaker did see a decline in operating profits from £291.4 to £261.5 million, but declared a 1% increase in profit before interest and tax.

£320 million - The value of the investment secured by GVC Holdings, made up by a £250 million term loan and £70 million revolving credit facility. The loan will be used to pay off its one-year €250 million Nomura Capital debt facility, which was used in-part for repayment of a £400 million loan provided by Cerberus Finance LLP.

5,062 - The number of delegates which attended the four-day London Affiliate Conference at the ExCeL, which included 2,989 affiliates and 1,512 exhibitors, and represented an 11% growth in attendance from the previous year.

£83 million - The value of the conditional agreement between Sportech and OpCapita, a London private equity firm, for the sale of The Football Pools. Sportech has outlined plans to use the cash, subject to investor approval, for long-term product and technology development.

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