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24 January 2012
Bingo News: Ladbrokes about to sign Stadium Technology deal
The online and land-based sportsbetting company Ladbrokes, has just completed a deal to buy a majority stake in the Las Vegas based betting applications software supplier, Stadium Technology Group.
Ladbrokes said that Stadium Technology provides it's licensed technology to several sports-book and third-party suppliers in Nevada and Delaware and the new agreement will see it introduced to the American market when a number of states are contemplating relaxing their gambling operations.
“The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence,” said Chief Executive Officer for Ladbrokes, Richard Glynn.
“Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand.”
Ladbrokes have stated they will spend three million dollars to purchase 65 percent of Stadium Technology with the option over the following 5 years to buy the remaining stake based on performance.
Stadium Technology already supplies software for Atlantis, Crystal Palace, Golden Nugget, Palazzo, Hard Rock, Cosmopolitan and Treasure Island.