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LADBROKES IN ACQUISITION TALKS WITH BETDAQ
January 7, 2013 : LADBROKES IN ACQUISITION TALKS WITH BETDAQ
Consideration of GBP 30 million rumoured
The UK online and land gambling group Ladbrokes has confirmed that its acquisition talks with Irish businessman Dermot Desmond's Betdaq betting exchange are continuing.
Rumours circulating in the UK media suggest that a price of around GBP 30 million is on the table, but that has not been confirmed.
The Guardian and other British newspapers reported Monday that Ladbrokes could be just weeks away from acquiring the Global Betting Exchange, which trades as Betdaq.
In a statement on Monday, Ladbrokes revealed: "[We] enjoy a close commercial co-operation with Betdaq and can confirm discussions regarding a potential future acquisition. Negotiations are on-going, though at this stage there is no certainty that an agreement will be reached."
Desmond set up the exchange 13 years ago in Dublin as a rival to Betfair, but it has not managed to gain significant market share and is thought to be loss-making, according to media reports. Rival Betfair continues to dominate the sector with an estimated 90 percent share of the exchange market.
After the failure of his previous acquisition attempts with 888 and Sportingbet, Ladbrokes CEO Richard Glynn is reportedly keen to make the Betdaq deal stick, enabling the gambling company to offer its punters a one-stop shop.
Industry analysts are speculating that in the event of an acquisition, Ladbrokes would have to make a significant investment in marketing to make Betdaq effective and a contributor to profits, and reduce leakage to the competition.
Danske Spil Bingo Moves to Microgaming -
The national lottery of Denmark, Danske Spil, is live on the Microgaming Bingo Network. Danske Spil, the Danish national lottery, is live on the Microgaming Bingo Network following a change to its licence conditions.
Quickfire live on Strendus -
Quickfire powered by Microgaming is extending its reach in the LatAm region with the signing of Strendus. Strendus is the online division of Logrand Entertainment Group. The group comprises several companies that operate gaming and entertainment establishments in Mexico, running 14 land-based casinos in total.
Quickfire content live on BetatHome -
Online gaming and sports betting company bet-at-home was founded in 1999. Today the company has 4.8 million registered customers around the world, offering sports betting, casino, live casino, Vegas games, poker and virtual sports.
Microgaming has donated £30,000 between four charities -
Gift of Giving provides Microgamingís customers the opportunity to vote for one of several charities in their region. In lieu of Christmas gifts, £30,000 is split equally between four global regions: Isle of Man, UK and Europe, Africa, and Rest of the World.
Entertainment Betting Odds: 90th Academy Awards -
The Shape of Water leads Sundayís 90th Academy Awards (8 PM ET, ABC) with 13 Oscar nominations, but when it comes to Best Picture, this highly-acclaimed film is a +140 second-favorite behind Three Billboards Outside Ebbing, Missouri at Ė115.
Fair Play Bets and QuickFire in Deal -
Fair Play Bets enjoys an unrivalled reputation for an outstanding player experience, with secure deposits and withdrawals, surprising casino bonuses and committed customer support. Fair Play Bets is licensed in UK, Malta and Curacao.
Cavaliers Aim to Take Down Wizards on 2/22/18 -
The Cleveland Cavaliers have looked like a different team since making their moves at the trade deadline. The Washington Wizards are up next for the Cavaliers, who will be at home after the All-Star break.
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