Ladbrokes Invests in U.S. Casino Market


02/20/2012
By Debra SaundersGoogle

The popular British sports betting and online casino games website Ladbrokes has made its first major investment into the U.S. casino market by acquiring a majority share of the Nevadan software company Stadium Technology Group.  Established in 2009, Stadium Technology Group develops sports betting related software and risk management technologies.  Currently headed by CEO Derek Harmer, they are known for products such as Rapid Bet Live™ and PrimeLine.

Ladbrokes CEO Richard Glynn stated that the company is seeking to establish a foothold in the American market for two main reasons.  One reason is the sheer size of the American market and its massive potential, and the second reason is the developing legislation in many states that could lead the way to legalized online gambling in the near future.  Ladbrokes hopes to be able to have a top online casino based in Nevada as soon as possible. 

The first stage of the acquisition deal between Ladbrokes and Stadium Technology Group will be the purchase of 65% of the latter by the former.  The current estimated value of that share is $3 million.  For the next five years Ladbrokes retains the rights to complete the purchase of Stadium Technology Group.

Ladbrokes has also seen growth in its mobile division.  This past December, they launched AtTheRaces, a live streaming mobile race app for Irish and British horse racing.  The new app and Ladbrokes’ mobile online casino have brought impressive growth to Ladbrokes Mobile during the last quarter.  Casino reviews commented that the mobile platform succeeds in combining simplicity with unique functionality. 


Share |


JOIN
to win a
Ipod Nano