20th of January 2012 Author: Glo Wood
Is Ladbrokes pursuing US plans?
The latest media reports involve news that Ladbrokes has closed an acquisition deal covering a majority stake, initially 65 percent, of U.S. sports book supplier Stadium Technology.
The consideration it will pay for the Las Vegas-based company that supplies software and in-game betting applications to sportsbook operators and third party suppliers amounts to $3 million.
In addition, the deal enables Ladbrokes to retain the option to acquire the remaining 35 percent of the business based on its performance over the next five years.
According to Ladbrokes chief executive Richard Glynn, "The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence. Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand."
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