If the answer is Entain, then there’s a good chance the question is, who owns Coral bookmakers. The Entain brand may not mean much to everyday sports bettors, and that’s the way they like it, working behind the scenes, but this company is a superpower of the online sports betting industry. Entain owns Coral and has a portfolio that includes some of the most famous bookies.
Formerly known as GVC Holdings, Entain is an international business that is listed on the London Stock Exchange and a big hitter in the FTSE 100 Index. It was founded in 2004 and has grown at an incredible rate, having a huge impact on the sports betting and gambling sector. Entain has bucked the trend set by many of their competitors who are based in Malta or Gibraltar. They have stayed closer to their roots and have a headquarters in Douglas, the capital of the Isle of Man.
The numbers involved show Entain mean business with chairperson Barry Gibson and CEO Jette Nygaard-Anderson overseeing a near 530 million Euro operating income but this story is more interesting than the bare figures. Let’s find out a bit more about who owns Coral bookmakers. By the end of this article, you’ll realise you knew more about this business than you could have imagined.
Some of the top names
Etain doesn’t just own Coral bookmakers. It has some of its biggest rivals in its portfolio. The most famous is Ladbrokes meaning the one-time great rivals of the UK betting industry are now partners. Ladbrokes and Coral went through a merger a few years ago to become the one bookmaker, but they continued to trade under separate names.
This was to get around a long-standing rule in the UK that banned any betting firm from having a monopoly over the high street. With most bets now placed online using websites and mobile apps, that is fast becoming an outdated rule, but it works for the business to be Ladbrokes Coral but keep things as normal, running as the red of Ladbrokes and the blue of their one-time enemy Coral.
You may have thought you were picking sides by favouring one over the other but, in actual fact, you are spending money at the same company, and all your gambling losses go to Entain. That shows the grip the company has over the market.
It’s not just Ladbrokes and Coral, Entain has many more fingers in many more pies. They are also the current owners of sportsbook betting sites Bwin and Sportingbet, as well as casino brand PartyPoker. Betboo, BetMGM, Gamebookers, Neds, PartyCasino, Casino Club, Gioco Digitale, Cashcade, Foxy Bingo and Foxy Games are other titles that are part of the Entain family, a family that continues to thrive and flourish.
As you can see, when betting with Coral, you are gambling with not only one of the biggest and best-known names in UK sports betting but also one of the biggest, most exciting and powerful businesses in the world.