CAN YOU BET ON A TAKEOVER?

Ladbrokes seems to have its sights set on swallowing some of its smaller rivals after making an approach for Sportingbet.

The company, which earlier this year pulled out of talks for a possible takeover of online gaming firm 888, has stated that the negotiations are “highly preliminary” and that there is no certainty that an offer will be made.

Striking deals

Ladbrokes chief executive Richard Glynn outlined that the company is exploring opportunities to accelerate its strategy and bring benefit to its stakeholders. He has been looking to strike deals since joining the group last year in a bid to improve the performance of the group’s online business which has been underperforming in relation to competitors such as William Hill.

The deal with 888 collapsed due to wrangling over the price with the company’s founding shareholders. However, a deal with Sportingbet should be easier to complete because its shareholders’ register is not dominated by founders, and management has indicated it is open to a takeover.

Both Sportingbet and 888 are seen as credible targets as the fragmented industry begins to consolidate. Sweden’s Unibet actually pulled out of negotiations to take over Sportingbet last November but sources suggest it has remained in talks with several other parties.

Online betting

The apparent urgency from Ladbrokes to expand its online business is indicative of how far the internet betting arena has developed in recent years. There are now dozens of companies competing with betting, casinos and bingo online.

If you fancy a flutter use the voucher codes published at 5hop5.ie to earn free bets and capitalise on other promotions. Just remember to gamble responsibly.