Ladbrokes planning Spanish and exchange launches
Sportium brand to go online in H2 in Spain while Lads aims for 2014 exchange and Mexico launch
Ladbrokes announced the launch of an online offering from its Sportium brand in Spain in H2 2013 and Mexico in 2014, along with the launch of a Ladbrokes branded exchange as it seeks to build on another disappointing set of digital results.
The company’s Spanish-facing company Sportium “ a joint venture with Spanish operator Cirsa “ has a strong presence in the country with almost 600 retail outlets, and Ladbrokes is looking to leverage the strength of the retail brand with an online launch in Spain scheduled for H2 2013.
Ladbrokes also announced a planned move into Mexico in early 2014, with Ladbrokes looking to take advantage of the months leading up to Brazil hosting the 2014 FIFA World Cup in June and July.
Ladbrokes CEO Richard Glynn said that whilst the company’s UK business would remain its core focus, Sportium’s near-600 outlets continue to maintain like-for-like growth despite Spain’s economic woes and near-30% unemployment.
He also drew attention to the planned launch of a Ladbrokes-branded betting exchange offering, which is due to launch alongside its existing fixed odds sportsbook early in 2014 in direct competition to Betfair.
Ladbrokes acquired betting exchange operator Betdaq in January, with the division contributing £3.9m to digital revenue in the six months ending June 30.
Lads’ Spanish licence, applied for in November 2011, would allow the company to provide both exchange and fixed odds offerings on the same site.