22nd Jan 2007 07:02
Ladbrokes PLC22 January 2007 LADBROKES ACQUIRES NORDIC PARTNER Ladbrokes plc today announces that it has acquired Sponsio Ltd, its onlinebetting and gaming partner in Sweden, Norway, Denmark and Finland. The acquisition is aimed at strengthening Ladbrokes' position in the Nordicregion, where per capita spend on gambling is among the highest levels inEurope. Ladbrokes will pay an initial consideration of £36 million to acquire thecompany, with an additional £4 million due if future growth targets are achievedin the region. The acquisition will be earnings enhancing in the first year ofownership. Ladbrokes signed a partnership agreement with Sponsio Ltd in 2001 to expand theLadbrokes business in the Nordic region. Today the Nordic countries togetherrepresent the biggest earning region for Ladbrokes eGaming outside of the UK. Following the acquisition, Douglas Roos, current Managing Director of SponsioLtd will head up Ladbrokes' Scandinavian division. Ladbrokes aims to build onthe historic success of the partnership with the Sponsio team and expand therange of localised betting and gaming opportunities available to customersacross the region. John O'Reilly, Managing Director of Ladbrokes Remote Betting and Gamingcommented: "Working with Sponsio has enabled Ladbrokes to become one of theleading online betting and gaming companies in the Nordic region. Havingbenefited from their local expertise, we are now consolidating our Nordicoperations and will continue to drive successful online growth throughoutScandinavia." Bertil Knutsson of Sponsio Ltd commented: "We are proud of both the success thatwe have achieved and the brand recognition that Ladbrokes now commands in theNordic region. We feel that this deal will help Ladbrokes increase its marketshare and serve its Nordic customers even better." -end- For further information contact: Head of Investor RelationsJulian ArlettTel: +44 (0) 7976 348 913 Head of Public RelationsCiaran O'BrienTel: + 44 (0) 7976 180 173 This information is provided by RNS The company news service from the London Stock ExchangeRelated Shares:
Ladbrokes Coral