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Ladbrokes Decides not to Pursue US Market
 August 27, 2006, 7:48 pm (5 years ago)Ladbrokes, a major British bookmaker has postponed its plan entering the US market. Instead it has decided to penetrate into the Italian market. It is now negotiating with Italian betting company Pianetta Scommesse, a €100 million (£68 million) joint venture investment.
The two most important reasons of this deal are the expected deregulation of the Italian gambling market and the sale of Ladbrokes Hilton International hotel chain in February.
For the time being, it is going to be a wait and see situation, as expressed by the Ladbrokes chief executive Mr. Chris Bell. He agreed that the tight spot of BetOnSports had imposed on the company’s review of the US market for Internet gambling. Mr. Bell has also admitted that any potential to provide the US market with online casino and poker games will depend up on the outcome of the forthcoming Bill.
A planned investment program of €100 million over five years is the root cause of the company’s confident venture into the Italian market. The focus will be on both Internet and terrestrial betting models.
Ladbrokes has become an accredited operator now with the future option to buy out its partner, since Ladbrokes has acquired a considerable 51% share in Pianetta Scommesse for an estimated €1.3 million in value. Its all in the game, ‘Games people play’ in the Gaming market!
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