Ladbrokes eats into PP’s Aussie business

Competition in the Australian online betting services market, currently led by Paddy Power-Betfair, has intensified further with Ladbrokes-Coral owner GVC Holdings acquiring local player Neds International for a maximum A$95m (€60m).

The purchase — which will see an initial A$68m change hands — will close the gap between Ladbrokes and the Paddy Power-Betfair-owned Sportsbet brand, which leads Australia’s online market, with a 33% share.