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Ladbrokes Shifts Focus

Advancements and changes within the Italian betting market have forced Ladbrokes to reassess the company’s current position in the land betting market and announce the liquidation of land betting assets in Italy. The Italian gambling market is changing rapidly as a newly liberalized markets begins to embrace the online casinos and license forms of internet gambling within Italy. Ladbrokes is one of the premiere land betting companies within the UK, but the company has had a tough time similarly finding huge success with land betting in other regions. The latest announcement out of Ladbrokes indicates that the bookie has sold all of its land betting interests to Cogetech as a way to focus more intently on the company’s blooming online casino and betting interests.

The deal is worth a reported Euro 5.25 million for the sale but is really a blessing to Ladbrokes since Ladbrokes has been suffering significant losses in Italy’s land betting market lately. The sale of the land betting shops is a way to cut losses and instead focus on a known lucrative market for the company, the online casinos. The key operation within the Italian market right now is a full internet poker site that is rapidly flourishing since the new regulations allow full fledged poker gambling throughout the country. Online casinos are not yet legal in Italy, but Ladbrokes has scored a major hit with the Italian poker site and plans to invest more effort in the marketing and expansion of this specific gambling sector as a way to maximize profits.

Ladbrokes does plan to target Italy with an online casino as well as bingo gaming as the Italian regulations continue to legalize and license new sectors of the industry. Additionally, Ladbrokes has expansion plans for Spain and France as well.