Following confirmation that Stanley is ready to offload its betting division, William Hill, Coral Eurobet, Fred Done and the Tote, are among the possible buyers which have cast their eyes over Stanley\’s betting shops.
William Hill has been guaranteed a period of exclusivity, during which it will carry out due diligence on Stanley\’s betting division and decide whether to bid or not.
Coral Eurobet is understood to have made initial overtures once rumours that William Hill was involved in talks first circulated.
The company, owned by private equity group Charterhouse, may plan a float to finance the buy of Stanley\’s estate of 625 betting shops.
One senior bookmaker said he could not see Stanley chairman Lord Steinberg completing a deal with Hills without checking how much Coral would pay.
“Leonard Steinberg is the hardest nickle and dimer of them all,” he said. “He knows Coral has to buy this business if it wants to be anything other than number three.”
“We are going to keep our options open,” confirmed a Coral spokesman.
Ladbrokes, Paddy Power and Rank (Blue Square) are unlikely to enter the fray.
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