Coral was acquired by Bass in January 1981, by which time Coral was one of the largest leisure groups in the United Kingdom, comprising approximately 650 betting shops, two greyhound stadia, social clubs, casinos, hotels and holiday camps. Although the betting shops and stadia retained the Coral name, the other operations were integrated into Bass.
In December 1997 Ladbrokes acquired Coral from Bass. However, the acquisition was referred to the UK Monopolies and Mergers Commission and they concluded in September 1998 that Ladbrokes should not be allowed to retain ownership of Coral.
Coral Group was then sold in a management buy-out backed by Morgan Grenfell Private Equity in February 1999. At the end of 1999 Eurobet, an internet betting business was acquired and the Group’s name was changed to Coral Eurobet.
The Coral Eurobet Group was then sold in a further management buy-out in September 2002 which was backed by Charterhouse Development Capital.
