Ladbrokes Courts Playtech Online Casino Software For Merger

Published Wednesday, February 09, 2011 - Online-Casinos.com

Ladbrokes one of the worlds oldest and best known bookmakers has sent feelers out in search content for a possible merger with software giant Playtech. The firm has instructed investment banks UBS and Greenhill to review the possibility of a share based merger with the software provider Playtech. Playtech is the world’s largest publicly traded online gaming software supplier.
The discussions have been minimal to date in regard to the possible merger but run in tandem with a separate attempt by Ladbrokes to negotiate a £240m takeover of internet gaming group 888 Holdings.

Playtech has a five-year joint-venture agreement with William Hill a staunch rival of Ladbrokes. A Ladbrokes spokesperson, Ciaran O’Brien, said he would not comment on the negotiations but did offer that Ladbrokes Chief Executive Officer, Richard Glynn “has a clear mandate to grow the company organically, and he’s focused on that,” O’Brien continued, “The board is also looking at other opportunities.”

 Playtech’s fortunes have seen a rebound with it’s stock rising  15.25 pence to 401.5 pence in early trading in London, after earlier gaining as much as 21.5 pence. The shares have declined 5.3 percent so far this year, giving the company a market value of 974 million pounds ($1.56 billion). Playtech is playing the game well and has used its diverse abilities to move ahead in the increasingly competitive online gambling industry.

Ladbrokes is eager to expand its online presence and parley it’s experience into more profits and expanded opportunities. Ladbrokes has huge brand recognition in the UK. With its origins going as far back as 1886, the firm employs more than 14,000 people in five countries, making it the world’s largest fixed-odds betting company. Ladbrokes is the leading bookmaker in the UK, Ireland and Belgium with over 2,600 owned and operated betting shops. The internet betting side of Ladbrokes, Ladbrokes.com is available in 19 languages and trading in 18 currencies the site incorporates the highest levels of security commercially available.

 

 

 

 

 

 

Related news

Return to Latest News