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Ladbrokes takeover of Sportingbet collapses

By admin on 2011-10-19 13:23:22

Our regular online casino news update returns once again to the long running saga of Ladbrokes’ attempts to make acquisitions to strengthen its online business. Earlier in the year our casino news reported that Ladbrokes had pulled out of a deal to take over 888 Holdings, and it now appears that the £550 million takeover of Sportingbet has also collapsed, in spite of the imminent sale of Sportingbet’s Turkish website which was thought to be the main sticking point in the negotiations. Ladbrokes Chief Executive Richard Glynn remains confident that his strategy for turning round their online casino business does not depend on acquisitions, but many shareholders appear to be getting nervous about Ladbrokes’ ability to go it alone in the face of competition from William Hill in particular. It is generally thought that William Hill’s joint venture with Playtech is what has allowed the company to make substantial gains in the online casino market, and many believe that Ladbrokes have now fallen behind. It remains to be seen whether Ladbrokes can achieve their objectives without some form of joint venture and we will be watching with interest, but in the meantime such concerns have little impact on those of us playing casino games at Ladbrokes online casino, and it remains a very popular site with our readers. Ladbrokes are still hoping to invest up to £50 million in new technology over the next two years, so there is no reason to suppose that Ladbrokes will not remain high on our list of recommended online casino sites, and continue to provide us with new and innovative casino games.