This story is sponsored by Ladbrokes BettingRichard Glynn, Ladbrokes CEO
UK sportsbook maker Ladbrokes has made a deal looking towards its future by acquiring a majority stake (65%) in a U.S. software company that provides security and software solutions to Las Vegas casinos.
Stadium Technology Group, the software company in question, supplies software to sports and racebook operators in Nevada and Delaware. The purchase cost Ladbrokes $3 million USD and may cost them more if they choose to take part in the back end of the deal giving them the rights to buy the remaining 35% over five years based on performance.
Why would Ladbrokes make such a bold investment? The U.S. has recently amended former legislation that previously banned online betting throughout the states. The new declaration is that individual states are free to make their own decisions about the legality of online betting within their own borders.
A buy into an American software firm indicates that Ladbrokes is looking to take advantage of the U.S. market if and when it should open its doors to electronic sportsbook betting.
Their recent buy seems well placed as New Jersey Governor Chris Christie just recently signed a law that allows betting on college and pro sports as well as racetrack betting. The CEO of Ladbrokes, Richard Glynn had this to say about the acquisition: “The size of the U.S. market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence…Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand.”
