Member Article

Ladbrokes bets on £25m Irish acquisition

British gaming firm, Ladbrokes announced a €30m (£25.23m) acquisition on the London stock exchange on Thursday.

The company will take the entirety of Global Betting Exchange Alderney (GBEA), the operator of exchange business Betdaq, which is based in Ireland.

Furthermore, Ladbrokes will assume a 10% stake holding in TBH Guernsey Ltd, which provides technology to GBEA, for €4m (€3.36m.)

The company hopes to accelerate its growth strategy through the deal, and build on its digital revenues.

Ladbrokes also said the business would be significantly enhanced because of Betdaq’s betting exchange, to enable the firm to create a more comprehensive betting service.

Robert Glynn, Ladbrokes’ chief executive, said: “The Betdaq exchange is a well-regarded and well invested business and a close strategic fit for Ladbrokes.

“Whilst the main focus of our digital growth strategy continues to progress well, this bolt on acquisition provides us with an exciting opportunity to grow our share of wallet through the creation of a differentiated and comprehensive sports betting proposition for customers and also supports our drive for improved liability management.”

This was posted in Bdaily's Members' News section by Miranda Dobson .