Ladbrokes Looking To Expand Exposure Into Online Gaming
Thursday, August 4th, 2011Ladbrokes, Britain’s biggest betting firm has been in talks with Sportingbet since June over an acquisition deal. Ladbrokes has kept information in regards to the deal under wraps, not sharing information about the deal, or the progress being made on it.
Ladbrokes is a winner on all fronts but one; online gaming. That’s where they are the weakest, and their biggest rival in that arena is William Hill. Acquiring Sportingbet would change the game for Ladbrokes, giving them exposure into online gaming, and giving them a new means of revenue.
Today on a conference call, Richard Glynn, the Chief Executive of Ladbrokes said that when there is more news to share, that they would deliver it to the market.
Glynn has stated that Ladbrokes is interested in acquiring what shareholders want; something that will deliver value and have organic growth. He further went on to say “We will continue to look at non-organic things where they deliver shareholder value, accelerate our core capabilities and where we will not take on any unmitigatable regulatory risk.”
Unlicensed websites are illegal in Turkey, and as a result, analysts have speculated that the deal will likely happen for Ladbrokes, as the decision to get rid of the Turkish business is the most practical thing to do.
Earlier in the year, Ladbrokes pursued a merger with 888. They pulled out of the deal in April, after four months of talks.



