19/01/2012
Ladbrokes plc has signed an agreement to acquire a majority stake in Stadium Technology Group (“Stadium”) – a Las Vegas-based supplier of software and in-game betting applications to sportsbook operators.
Stadium supplies its innovative, licensed technology to a number of sportsbook and third party suppliers in Nevada and Delaware. The deal sees Ladbrokes enter the US market at a time when a number of states are exploring liberalising gambling.
Casinos that utilise Stadium software directly or through third party suppliers include: Atlantis, Cosmopolitan, Crystal Palace, Golden Nugget, Hard Rock, M Resort, Palazzo, Treasure Island and The Venetian.
Ladbrokes Chief Executive Richard Glynn commented: “The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence. Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand.”
Ladbrokes initial investment to acquire a 65% majority stake in the business is $3 million, with a retained option to buy the remaining 35% of the business over the next five years on a performance-related basis.
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| Ciaran O’Brien |
07976 180173 |
| Director of Corporate Affairs |
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| Matthew Sharff |
07854 184808 |
| Head of Investor Relations |
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