Betdaq Acquisition by Ladbrokes Imminent


The latest stock exchange reports note that online and land gambling group Ladbrokes has finally closed a deal on the acquisition of betting exchange Betdaq from Irish multi-millionaire owner Dermot Desmond for a consideration of Euro 30 million.

There's already an existing relation between the two companies - Desmond's investment portfolio includes a 2 percent stake in Ladbrokes and they also have a commercial relationship, through which Ladbrokes uses the betting exchange to hedge bets.

Based on the agreement, parent company Global Betting Exchange Alderney, the operator of the Betdaq exchange business, will be sold on a cash free/debt free basis.

In addition, Ladbrokes will also acquire from TBH a 10 percent stake in TBH Guernsey Limited, the technology provider to GBEA, for which it will pay another Euro 4 million, with a call option to acquire the remaining shares in TBHG after four years.

This first successful transaction for Ladbroke CEO Richard Glynn is expected to complete in late February 2013.

Sports Society News General Sportsbook News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

4mins ago someone from us flag United States read article 1X2 Gaming to Launch Leap-Gaming Virtual Sports Product

Sports Community

Share this page on:
Follow LSB on:
Follow LSB

Join Now for full access

In the last 24h

Totals

  • New Members
    3
  • Members Online
    8
  • Guests
    923



eighteen plus only

Follow LSB on Facebook Follow LSB on Twitter Follow LSB on Pinterest Follow LSB on Google plus