Ladbrokes Partners with Stadium Technology, A US Sportsbook Supplier
Ladbrokes, one of the largest bookmakers in the United Kingdom, has inked a deal with Stadium Technology, the company announced today.
Stadium, based in Las Vegas, is a supplier of licensed technology to a number of sportsbook and third party suppliers in Nevada and Delaware, including casinos like Atlantis, Cosmopolitan, Crystal Palace, Golden Nugget, Hard Rock, M Resort, Palazzo, Treasure Island and The Venetian.
The move signals that there is much more interest in the US market, as the topic of legalizing online gambling is revisited. Commenting on the deal, Ladbrokes CEO Executive Richard Glynn said, “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.”
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.
More updates to follow.