ladbrokes888 and Ladbrokes have been in talks for over a month and a source close to the situation said a deal worth £490M could be struck as early as next week. Aaron, Avi Shaked (the billionaire who has plans for peace in the Middle East) and Shay and Ron Ben-Yitzhak still own about two-thirds of 888 - worth over £300m. At this point we are not sure whether they will sell all their shares to Ladbrokes.

Ladbrokes set its sights on 888 after the sector was hammered by the US ban on online gambling. 888 managed to come out of the water much faster than most of its rivals due to the fact that only half of the revenues came from the States.

Once the deal is struck Ladbrokes will set its sights to the acquisition of Rank but the bookmaker will face the challenge of William Hill.