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Ladbrokes Betting Exchange
01/09/2012 : We're talking technology - not company - acquisition says UK betting giant
British land and online betting giant, Ladbrokes, is negotiating with Irish billionaire Dermot Desmond, the owner of the Betdaq betting exchange, over a "technology" deal to revamp the bookmaker's faltering online business, according to a report over the weekend in the Telegraph newspaper.
The report speculates that the move by Ladbrokes CEO Richard Glynn is a bid to boost the company's internet operations by buying in the pricing and trading skills of an established peer-to-peer betting exchange.
Desmond, who has a stake of about 2 percent in Ladbrokes, set up Betdaq in 2000, though it has been dwarfed by its larger and more publicised rival Betfair.
The newspaper notes that Glynn is under some pressure, having walked away from four online deals since taking over as chief executive in April 2010. These included talks with 888, Playtech and Sportingbet, and pulling out of an auction for Australia's Centrebet.
Approached for comment, a Ladbrokes spokesman denied the bookie might be interested in buying Betdaq itself, valued at more than GBP100 million.
"It's only a discussion about technology supply," he said. "Exchanges have good up-to-the-minute pricing technology." The spokesman added that any deal would be financed from the GBP50 million already set aside for investment in online gambling by Ladbrokes.
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Gambling News :
Interwetten 2016 Earnings Results -
Privately-owned online sports betting operator Interwetten delivered robust full year results for the 2016 fiscal period, in which the company has almost achieved doubling its revenues over the past four years, success it attributes to its in-house developed platform
EU Online Gambling Tax Harmoney Dead -
Tax expert says European Court of Justice Attorney General's opinion on UK-Gibraltar litigation signals that EU courts are happy for individual member states to impose their own laws on online gambling.
Jack Lam Facing Big Fines in the Philippines -
It's going to be costly for Macau online gambling and junket tycoon Jack Lam to return to the Philippines following his rather hurried departure last year with allegations of economic sabotage, bribery and tax evasion swirling around him.
PlaySugarHouse To Carry Konami Content -
Content provider Konami will provide its Gypsy Fire and Fortune Stacks slot games to Rush Street Interactive-operated PlaySugarHouse.com on an exclusive basis in the New Jersey real-money online and mobile wagering market.
ITF TERMINATES BETWAY SPONSORSHIP DEAL -
The International Tennis Federation (ITF) has reportedly terminated Betway’s three-year sponsorship partnership as an extension to their anti-match fixing and sports integrity policy.
GSA To Launch European division -
The expansion enables the GSA to better focus on the regional needs of its members outside of North America and underscores its recognition and commitment to growing European membership.
Paddy Power Trading Update -
Company prevails despite adverse sports and US election results; Trump success cost the group GBP 5 million, whilst punter successes took another GBP 40 million in Q4-2016.
Tabcorp SunBets project -
The details were revealed this week in an IT News article quoting Tabcorp's chief information officer, Kim Wenn, who described the SunBets project as Tabcorp's biggest global venture yet.
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