Finsbury set to handle Ladbrokes demerger

Betting chain Ladbrokes is set to bring in Finsbury to handle comms around its demerger from FTSE-100 company Hilton Group.

Ladbrokes confirmed that Finsbury was 'being considered for a specific project' but declined to give further details.

However, it insisted that Finsbury's appointment would not affect its relationship with Bell Pottinger Corporate & Financial, which Ladbrokes CEO Chris Bell appointed in the middle of last year.

Ladbrokes is the gambling subsidiary of Hilton Group, which announced the sale of its eponymous hotel arm to Hilton Hotels Corporation (HHC) at the end of December. HHC owns the rights to the Hilton brand in the US and Mexico.

After the deal's completion Hilton will retain its listing but under the Ladbrokes name.

Speculation on the future of Ladbrokes has been rife since the end of last year. Hilton confirmed in December that it had received interest in its betting brand.

With the completion of the sale of Hilton's hotels to HHC, the likelihood has increased of a bid for Ladbrokes in a sector that has become increasingly popular with investors.

Commentators have speculated that Ladbrokes will seek a tie-up with a rival betting company.

Once the hotel sale to Hilton Hotels is complete, Ladbrokes will be the UK's largest quoted betting business, but the company is facing stiff competition in its home markets and is keen to expand into new territories.

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