A world-renowned gaming expert says reports that island based GVC Holdings is to take over Ladbrokes Coral could spell good news for the Isle of Man and its online gaming industry.

Warwick Bartlett, chief executive of Castletown based GBGC - Global Betting and Gaming Consultants, was reacting to reports this morning (Friday) that a deal has been struck between High street bookmaker Ladbrokes Coral and online rival and Foxy Bingo owner, the Isle of Man headquartered GVC.

The deal is worth up to £4 billion, the Press Association reported this morning. (Friday).

Reacting to the news, Mr Bartlett told Isle of Man Newspapers that gaming companies need ’certainty and the island provides that’.

He said: ’You could say the IoM has had a run of bad luck over the last five years. This could now be our time here in the island.’

He said the Isle of Man government welcomes eGaming companies to the island which has a diversified economy.

He added that the island has a ’favourable tax regime.’

The Isle of Man is not a member of the EU and some companies might not want to be ’dictated to by Brussels.’

Today’s news reported by the Press Association this morning, comes after GVC and Ladbrokes Coral said earlier this month that they were in ’detailed’ discussions over a cash and shares tie-up, as reported previously.

The deal follows two previous attempts at a combination between the pair, with the most recent discussions breaking down in the summer over price and amid uncertainty ahead of the Government’s gambling review.

The deal will see the creation of an online-led global gambling giant, combining Ladbrokes’ high street and online operations with GVC’s stable of brands, including Sportingbet and PartyCasino.

GVC employs 2,800 employees and contractors throughout 15 offices globally.

GVC Holdings PLC is a gambling and online gambling operator in both business-to-consumer and business-to-business markets.

The registered headquarters is in Athol Street, Douglas.