Ladbrokes snaps up Betdaq in €30m deal

Bookmaker Ladbrokes has snapped up Irish betting exchange Betdaq for €30m (£25m).

Ladbrokes said earlier this month it was in talks with the online bookie, which is owned by Irish millionaire Dermot Desmond.

Ladbrokes has also agreed to acquire a 10 per cent stake in TBH Guernsey Limited, the technology provider to Betdaq, for €4m.

“Whilst the main focus of our digital growth strategy continues to progress well, this bolt on acquisition provides us with an exciting opportunity to grow our share of wallet through the creation of a differentiated and comprehensive sports betting proposition for customers and also supports our drive for improved liability management,” Ladbrokes chief executive Richard Glynn said this morning.

The deal is expected to complete in late February.