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Sunday, February 24, 2008

Ladbrokes Set to Expand Online

Ladbrokes, one of the most popular names in the UK gambling industry, is preparing to sell its only brick-and-mortar casino in the country, and expand its operations online. It has recently been learned that Ladbrokes is one of several companies in a bidding war over the purchase of online bingo giant, Parlay Entertainment. The Canadian-based Parlay, that trades on the Toronto stock exchange and is worth over $13 million (Canadian), is considered an excellent investment for any company seeking to benefit from one of the industry's fastest growing segments - bingo.

Ladbrokes announced earlier that it would not be bidding for the one of the sixteen gambling licenses that are up for grabs by the UK gambling authorities, following new legislation in the country. It sold its casino division to Gala-Coral in 2001 and opened a casino and sports bar in 2006. As mentioned, this venture is in the process of being sold. It is predicted that Ladbrokes will announce a £360 million figure in operating profits at a presentation this week.

posted by Clark Gamble at Ladbrokes Set to Expand Online

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