The CMA said the deal could “lead to a worsening of the offer made to customers at both a local and national level,” and identified 642 local areas where the merger would be likely to cause “a substantial lessening of competition”.
The sales must be approved by the CMA and be “substantially completed” before the merger can go ahead. The decision was expected after the CMA’s provisional findings published in May.
““The figure is around ten per cent of the combined group’s portfolio of betting shops, but is lower than the bookmakers had initially feared
”
Ladbrokes and Coral agreed the proposed merger last summer. The rise in onling gambling, combined with stricter regulation and rising taxation, has prompted a wave of consolidation that has affected almost all the major players in the UK betting industry.
Earlier this week William Hill, previously the clear leader in the industry, said it had been approached by Rank Group and 888 Holdings after falling behind in the race for online growth.