Ladbrokes acquires BetDaq in deal worth €30m

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Ladbrokes (SBR rating A) has acquired BetDaq Sportsbook in a deal worth €30 million, which includes €15m in Ladbrokes shares. Ladbrokes will also acquire a 10% stake in TBH Guernsey Ltd, BetDaq's technology provider. The news is underscored by Ladrokes' CEO Richard Glynn making his first acquisition since taking the helm three years ago.

Glynn had balked on opportunities to purchase SportingBet, 888, as well as withdrew from discussions on CentreBet Australia.

According to a report, BetDaq cleared €2.8m after last year. BetDaq' gross assets were €35.4m.

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