Ladbrokes and Playtech announce a major deal
With the rapid increase in number of online gambling sites and whatnot, playing one’s favorite casino games has become routine. Ladbrokes is just one of the sites that offer some of these games. However, this time Ladbrokes isn’t going to play it safe anymore as it formally announced its major deal with Playtech. The deal is allegedly one that will introduce 200 new casino style games to the company’s website within the latter half of this year.
Despite being one of the extremely popular casino gambling brands today, this new deal is said to freshen up the name of Ladbrokes and will even strengthen its demographics and loyal followers, especially the digital aspect of the business. This is the main concern of Playtech Chief Executive Mor Weizer. In a recent press release, the executive shared, “Ladbrokes is one of the largest and most respected brads in the betting and gaming industry, and we are delighted to have secured the opportunity to play an important role in accelerating the growth of its digital business.”
In addition to this, a spokesperson for Ladbrokes also shared his insight in relation to the alleged deal, “The tie up with Playtech represented the next phase in the re-invigoration of our digital business.” In light of this matter, once the news was formally announced, both Ladbrokes and Playtech saw a significant rise in their stocks, with Ladbrokes showing a rapid increase of at least 6% while Playtech at 3% in total. In the recent decades, Ladbrokes had fallen behind compared to their former rival William Hill. Nonetheless, last year they made a comeback with the operating profit amounting to 31 million pounds from its original market business. Thus, the news today has undeniably boosted the strength of their shareholders.
It can be noted that in 2012, the sportsbook section of Ladbrokes increased by 9%, an increment that saw a proportional revenue amounting to 178 million pounds. Coupled with the digital section of the business of the company, things are certainly on the greener pasture for Ladbrokes.
Furthermore, this new major deal with Playtech is perceived to be the bigger push that it needs in order for it to reach the pedestal and remain there for the time being. Now, analysts are anticipating as to what this major deal is all about.