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Ladbrokes are one of the best known names in the betting industry in the UK and they have also been making a huge name for themselves online. Ladbrokes are now in talks with Parlay Entertainment who are online bingo specialists to acquire their business. Ladbrokes however are not the only company that are locked in talks with Parlay Entertainment as there are a small number of other parties that are interested in acquiring Parlay too.
Parlay Entertainment are estimated to be worth £6.5 million which is the equivalent to $13 million dollars. Parlay are world leaders in the online bingo industry, when you play online bingo at sites like Astro Bingo or Bingos UK you will be playing on software that is provided by Parlay Entertainment, plus all St Minver online bingo sites are also run on Parlay’s software.
It looks like Ladbrokes are getting ready to expand their online side of their business as they are looking to sell their only land based casino that they have that is based in London. It has been reported that Ladbrokes have several interested parties in their casino that is based in Paddington, West London. Gaming Licenses are very scarce in London, so this could be why so many casino companies are interested in acquiring Ladbrokes Casino.
Ladbrokes only opened their state of the art casino in 2006, but it does seem like they have now decided to concentrate on their online operations instead, as last month they announced that they would not bid for any of the 16 casino licenses that the government have created in their shake up of the gaming laws in the UK. Ladbrokes used to have a large slice of the casino industry in the UK, but this was sold to the Gala – Coral group back in 2001. The new casino that Ladbrokes opened in London in 2006, was the only one since they sold off their other Casinos to the Gala – Coral group.
It has been suggested by analysts that rival companies such as Rank, Gala – Coral, Genting and Harrah’s could all be interested in acquiring the Ladbrokes Casino in Paddington, London. Ladbrokes are due to hold a results presentation on Thursday, where they are expected to announce that their company’s forecast to deliver operating profits of approx £360 million. They may confirm at the presentation about the talks with Parlay Entertainment. Will Ladbrokes acquire Parlay Entertainment? We will all just have to wait and see what unfolds I am afraid!
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