|The Hilton Group claim they have no intention of selling betting company, Ladbrokes, despite persistent recent rumours that they are trying to offload the company to the highest bidder. However, the group has acknowledged that there has been significant interest in Ladbrokes along with several bids.|
According to a Hilton spokesman, “These approaches included a number of pre-conditions and failed to recognise the long-term strategic value of Ladbrokes. The board reiterates its confidence in the business and prospects of Ladbrokes and is looking forward to Ladbrokes trading as an independent betting and gaming company.”
Industry insiders also believe that Ladbrokes has received interest from several private equity groups. For instance, last year, after Ladbrokes was valued at £3 - 4 billion, it is believed that CVC tabled a bid for £3.7 billion which was turned down.