Ladbrokes has confirmed speculation it is in talks to buy the Irish betting exchange, Betdaq, as the firm continues the race to beef up its internet betting capability.
The firm, which has recently failed to buy internet rivals 888 Holdings and Sportingbet, said it "enjoys a close commercial cooperation with Betdaq and can confirm discussions regarding a potential future acquisition".
"Negotiations are ongoing though at this stage there is no certainty that an agreement will be reached," the statement added.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Betdaq, which is owned by billionaire Dermot Desmond, operates as a peer-to-peer betting exchange.
Previously Ladbrokes had said it was only interested in doing a deal with Betdaq to supply its up-to-the-minute pricing technology.
-
Cash in on the growth prospects of Europe's companiesOpinion Marcel Stötzel, co-portfolio manager of the Fidelity European Trust, selects three stocks
-
Is the AI boom another dotcom bubble?25 years on from the dotcom bubble bursting, is it time for investors to consider the sustainability of the AI boom in the stock market?
