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LADBROKES BETDAQ TAKEOVER BID RUMOURED
Monday July 30,2012 : LADBROKES BETDAQ TAKEOVER BID RUMOURED
and UK bookmaker fires product director for digital ahead of financial results
Ladbrokes may be considering a takeover bid of Betdaq, the Irish online sports-betting exchange owned by Dermot Desmond, rather than the "technology deal" reported earlier this year according to an article in the Sunday Independent over the weekend.
"There are discussions about deepening our relationship with Betdaq," said an unidentified Ladbrokes spokesman who "sort of" confirmed that some sort of deal was taking shape when he added: "We are on a programme to improve our technology, and that could make it useful to us. I won't comment on whether we would buy it, but it would be useful to us, and you can draw your own conclusions."
Former managing director of Betdaq UK, Rob Hartnett said: "I've heard it whispered with louder volume in recent weeks. Betdaq has made moves towards developing a sports book. The coming together of both sides of that equation would seem to be gathering pace."
Neither Ladbrokes nor Dermot Desmond responded for a request to comment.
In related news, Ladbrokes product director Richard Ames has reportedly been fired as the company approaches its latest resulting period amid speculation that the digital side of the business will show a dismal performance. Ladbrokes dismissed its Director of Trading Jon Thompson in June this year for undisclosed internal procedural reasons.
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