Wednesday, January 24, 2007

Ladbrokes has acquired their Scandinavian online gambling partner Sponsio
Ltd. in a deal potentially worth £40 million. Sponsio is an online gambling
company with a presence in Sweden, Norway, Denmark and Finland and will
place Ladbrokes in a strong position within the Nordic region. Ladbrokes,
who signed a partnership deal with the company back in 2001, have paid £36
million for Sponsio plus a further £4 million down the line if growth
targets are met. Spending per capita in the Nordic regions is among the
highest levels in Europe and as such Ladbrokes are confident the deal will
prove profitable. "Working with Sponsio has enabled Ladbrokes to become one
of the leading online betting and gaming companies in the Nordic region.
Having benefited from their local expertise, we are now consolidating our
Nordic operations and will continue to drive successful online growth
throughout Scandinavia," said John O'Reilly, Managing Director of Ladbrokes.
Former Sponsio managing director Douglas Roos will head up Ladbrokes'
Scandinavian division.