Ladbrokes has entered into a partnership with Playtech in the hopes of beefing up their worldwide Internet gambling options.
The blockbuster deal is set to work in tandem with Ladbrokes’ recent acquisition of the betting exchange, Betdaq.
A big part of the deal centers on the formation of a joint Playtech/Ladbrokes marketing department that will be based in Israel. The new team will employ around 40 people and will work closely with other Ladbrokes staff worldwide.
On the gaming side, the new partnership grants Ladbrokes full access to Playtech’s full product line. Consumers will begin seeing the fruits of this deal in May when Ladbrokes rolls out their new, Vegas casino gaming suite.
In press release, Ladbrokes CEO Richard Glynn talked about how the Playtech deal fits into the company’s big picture plans:
Ladbrokes has made significant progress over the past two years by investing in our core technology, revitalising our brand and making our customer offer more competitive…The next phase of this reinvigoration will see us work closely with Playtech to increase customer lifetime values through enhanced customer retention management, an area in which Playtech has a proven track record.
News of the deal bumped up Ladbrokes’ stock price by a whopping 17.34% on the London Exchange.
What do you think of the Playtech/Ladbrokes partnership? Share your thoughts in the comments section below.