Ladbrokes 'considers' Playtech tie-up
Ladbrokes is looking to take over the largest gambling software firm in the world, according to reports.
Bookmaker Ladbrokes may be set to begin sales negotiations with a view to acquiring the largest provider of gambling software in the world, reports suggest.
According to the Telegraph, the firm is in talks with Playtech over a potential merger that could be worth some £2.2 billion.
It is thought a board meeting took place at Ladbrokes on Monday (February 7th) to discuss potential negotiation strategies in light of the fact that William Hill Online, a major rival, currently has a joint venture in place with Playtech.
The current talks are only preliminary, but they suggest that new Ladbrokes chief executive Richard Glynn has ambitious plans for the company, Alistair Osborne of the Telegraph says.
He cites a source close to Ladbrokes who explained looking at possible mergers is "what you would expect in the first ten months of a new management team".
Ladbrokes is one of the world's biggest betting companies with 15,000 workers around the world, while Isle of Man-based Playtech employs more than 1,000 people and offers software for the casino, bingo, live gaming, sports betting and poker sectors, among others.
A merger between the two firms "could transform the betting industry", according to Mr Osborne.