Ladbrokes acquire Nordic gambling partner
Ladbrokes has acquired their Scandinavian online gambling partner Sponsio Ltd. in a deal potentially worth £40 million. Sponsio is an online gambling company with a presence in Sweden, Norway, Denmark and Finland and will place Ladbrokes in a strong position within the Nordic region.
Ladbrokes, who signed a partnership deal with the company back in 2001, have paid £36 million for Sponsio plus a further £4 million down the line if growth targets are met. Spending per capita in the Nordic regions is among the highest levels in Europe and as such Ladbrokes are confident the deal will prove profitable.
“Working with Sponsio has enabled Ladbrokes to become one of the leading online betting and gaming companies in the Nordic region. Having benefited from their local expertise, we are now consolidating our Nordic operations and will continue to drive successful online growth throughout Scandinavia,” said John O’Reilly, Managing Director of Ladbrokes.
Former Sponsio managing director Douglas Roos will head up Ladbrokes’ Scandinavian division.
This new deal is another example of Ladbrokes efforts to strengthen their position in Europe. Late last year they were awarded new betting licences in Italy and earlier this month they entered into a joint venture with Spanish gambling company, Cirsa Slot.
Editor, Jackpot.co.uk - 2007-01-22 11:28:03