Kenny Alexander facing biggest challenge yet with proposed deal

GVC and Ladbrokes Coral have been flirting for so long that the official announcement they are in talks comes as no shock. The only real surprise is the timing.

In September, GVC chief executive Kenny Alexander said he would not be doing any deals in the UK until after the government's gambling review and the Budget.

The Budget did not throw up any nasty surprises in terms of tax increases for the sector, but the gambling review is yet to provide any real clarity on FOBT stakes.