Ladbrokes extends partnership with Playtech

Betting group Ladbrokes has unveiled plans to extend its relationship with Playtech, the online gaming software company, as part of the former's 're-invigoration' of its Digital business.

Betting group Ladbrokes has unveiled plans to extend its relationship with Playtech, the online gaming software company, as part of the former's 're-invigoration' of its Digital business.

Playtech will create a new e-commerce and digital marketing services operation, to be integrated with the company's existing Digital teams in London and Gibraltar, and will also give Ladbrokes access to its full product suite and technology, which will see the launch of a new 'Vegas' tab on Ladbrokes.com.

In due course Ladbrokes will also migrate to Playtech's download casino and poker products.

Chief Executive Officer (CEO) of Ladbrokes, Richard Glynn, said: "Ladbrokes has made significant progress over the past two years by investing in our core technology, revitalising our brand and making our customer offer more competitive.

"The next phase of this reinvigoration will see us work closely with Playtech to increase customer lifetime values through enhanced CRM, an area in which Playtech has a proven track record. The formation of a new, Ladbrokes owned, e-commerce and digital marketing services function, in addition to an expansion of our existing product relationship is a material development.

"This relationship will accelerate our progress in a sustainable way over the next five years and beyond."

Playtech's CEO, Mor Weizer, commented: "This is an exciting opportunity to play a key role in delivering material growth to Ladbrokes Digital business in the coming years.

"The combination of Ladbrokes' brand strength, its newly invested core technology and Playtech's proven track record in growing digital revenues through advanced e-commerce and digital marketing has significant potential.

"The structure of the agreement reflects our confidence in accelerating Ladbrokes' Digital revenue growth."

More to follow...

NR

Recommended

How to be better at selling stocks
Investment strategy

How to be better at selling stocks

There is plenty of advice around about buying stocks, but not so much about when you should sell. John Stepek explains the two key things to know abou…
14 Jan 2022
Share tips of the week – 14 January
Share tips

Share tips of the week – 14 January

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
14 Jan 2022
Fintech: how to profit as technology transforms banking around the world
Share tips

Fintech: how to profit as technology transforms banking around the world

Financial technology – from apps to APIs to the cloud – is rapidly transforming financial services. This will spell doom for some incumbent firms, whi…
14 Jan 2022
Three solid assets to buy for a low interest-rate world
Share tips

Three solid assets to buy for a low interest-rate world

Professional investor Luke Hyde-Smith of the Waverton Real Assets Fund, highlights three alternative investments to diversify your portfolio.
14 Jan 2022

Most Popular

US inflation is at its highest since 1982. Why aren’t markets panicking?
Inflation

US inflation is at its highest since 1982. Why aren’t markets panicking?

US inflation is at 7% – the last time it was this high interest rates were at 14%. But instead of panicking, markets just shrugged. John Stepek explai…
13 Jan 2022
Five unexpected events that could shock the markets in 2022
Stockmarkets

Five unexpected events that could shock the markets in 2022

Forget Covid-19 – it’s the unexpected twists that will rattle markets in 2022, says Matthew Lynn. Here are five possibilities
31 Dec 2021
Interest rates might rise faster than expected – what does that mean for your money?
Global Economy

Interest rates might rise faster than expected – what does that mean for your money?

The idea that the US Federal Reserve could raise interest rates much earlier than anticipated has upset the markets. John Stepek explains why, and wha…
6 Jan 2022