adbrokes initial investment to acquire a 65% majority stake in the business is us$ 3 million, with a retained option to buy the remaining 35% of the business over the next five years on a performance-related basis.
The deal sees Ladbrokes enter the US market at a time when a number of states are exploring liberalising gambling. Casinos that utilise Stadium software directly or through third party suppliers include: Atlantis, Cosmopolitan, Crystal Palace, Golden Nugget, Hard Rock, M Resort, Palazzo, Treasure Island and The Venetian.
Stadium supplies its innovative, licensed technology to a number of sportsbook and third party suppliers in Nevada and Delaware.
Ladbrokes CEO, Richard Glynn, commented: “The size of the US market and potential for positive regulatory change in the coming years make it a sensible place to establish a presence. Stadium Technology is already one of the key software suppliers to casinos in Nevada and Delaware and it has the potential to expand.”