Alphanumeric shares soar after Ladbrokes deal
Shares in Alphanumeric, the technology firm behind Turf TV, leapt by 12 per cent after it signed a deal with Ladbrokes to broadcast horse racing coverage for the UK’s second largest bookmaker.
Turf TV is a joint venture between Alphanumeric and 31 racecourses in the UK has upset the countries three big bookmakers – Ladbrokes themselves, Coral and William Hill. Ladbrokes and William Hill are major shareholders in Satellite Information Services (SIS), the company which previously enjoyed a monopoly on horse racing coverage provided to high street bookmakers.
The rise in share price of Alphanumeric has seen £7.5 million added to its market value of £62.5 million.
As a result, Turf TV’s service will now cover more than 6,000 betting offices, with that number inevitably set to rise once the other big bookmakers Betfred and William Hill follow Ladbrokes’ lead. William Hill are currently in talks with Turf TV and a deal seems imminent.
"Discussions are ongoing. We don't want our customers to lose out on pictures our competitors have," a William Hill spokesman said.
Editor, Jackpot.co.uk - 2008-01-03 11:53:02