Ladbrokes Eyes Legal US Online Gambling

Published January 31, 2012 by OCR Editor

Ladbrokes Eyes Legal US Online Gambling

UK bookmaker and online casino acquires controlling share in Las Vegas software firm

Ladbrokes, the UK-based online sportsbook and casino giant, has made a big purchase in Nevada, making it the latest offshore gambling operator to cement a position for itself in the event sports betting is eventually legalized in the United States.

Eye to the future

Ladbrokes paid $3 million to acquire 65 percent of Stadium Technology Group, a Las Vegas-based supplier of software and betting applications to bookmakers. STG currently powers software for several locations in Las Vegas, including the entire CantorGaming group, Golden Nugget and Treasure Island.

The size of the American market and the potential for positive regulatory change in the near future made this acquisition a sensible one, Ladbrokes CEO Richard Glynn said. He added that Stadium Technology could expand its business by becoming one of the main software suppliers to existing land-based casinos in Nevada and Delaware.

Brits take over Vegas

William Hill, the main British rival to Ladbrokes, last year spent well in excess of $50 million on purchases of various Las Vegas sports betting outfits, including American Wagering. The acquisitions are known to be part of a plan to cement a foothold in the US before legalization and the consequent growth in the market.

New Jersey is at the forefront of the race to legalize sports betting, and a congressman representing the state has already introduced federal legislation to open sports betting there, and ultimately set the precedent for other states to do so as well. The US Justice Department ruled late last year that while cross-state betting on sporting contests is illegal, other forms of internet gambling such as poker and casino games are not.

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