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Ascot
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Not another one - Ladbrokes. iPoker. You can guess the rest.

on 2013-03-12, 21:02
Ladbrokes to Migrate Online Poker from Microgaming to iPoker

In a deepening of its existing relationship with Playtech, Ladbrokes has announced that it will “in due course” move its online poker operation off Microgaming (MPN) and onto Playtech’s iPoker network.

In a press release issued Monday, Ladbrokes confirmed that it will launch Playtech’s “full suite of products over time,” including online poker.

“In line with our contractual commitments we will continue to work with Microgaming … until such time as we have agreed an orderly transition,” a spokesperson clarified in a statement to pokerfuse.

Initially Ladbrokes will add a “Vegas” tab to their website and mobile products which will give access to Playtech casino products and games. This will later be joined by online poker, though no timescale has been announced.

Ladbrokes poker is currently one of the most prominent brands on the Microgaming network, operating a dot.com room under Gibraltar license, Ladbrokes.DK in regulated Denmark, and one of the only rooms on Microgaming Spain under its LBApuestas brand.

Online poker has been a declining source of revenues for the company. The shift to iPoker, which has grown recently thanks to the successful courting of high profile brands, aims to reinvigorate the online poker offering.

Industry rumors suggest that this is a move which Ladbrokes has wanted to make for some time, but had been prevented from doing so by Playtech’s close relationship with William Hill, Ladbrokes’ great competitor in the UK market.

Playtech owns 29% of William Hill Online, the joint venture which offers all William Hill’s internet gambling. The venture agreement included non-compete clauses which have hampered Playtech’s access to agreements with William Hill competitors. Disagreements over these clauses have resulted in a fractious relationship between the two companies.

On March 1, William Hill announced that it had decided to exercise its call option to buy Playtech’s stake in William Hill Online. It is funding this with a rights issue which will raise £375m and by borrowing £50m. The total cost of buying Playtech’s shares will be £424m, which places an enterprise value of just under £1.5bn on William Hill Online: 50% of the value of the whole group.

Ladbrokes share price has risen 6.5% on news of the deal.

A second agreement to purchase The Nation Traffic Services Ltd was also announced. A new Ladbrokes subsidiary will be formed called Ladbrokes Israel, which will be responsible for “managing the acquisition, customer retention and enhancement of customer lifetime values through every stage of the digital lifecycle.”

This team will use Playtech’s IMS software which provides back office functions to “execute an effective retention strategy, tailor promotions, and implement bonuses in a seamless fashion across all products, thereby growing player value.”

A cross platform e-wallet will also be introduced which could lead to more of Ladbrokes’ casino players trying their hands at online poker.

The structure of the agreement contains several performance related measures which pay Playtech more as revenues grow. From a poker perspective this means that Ladbrokes will be committed to improving its online poker presence; after some years of decline, it may once again become a competitive online poker operator.


from Pokerfuse 12th March 2013

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Panfried
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Re: Not another one - Ladbrokes. iPoker. You can guess the rest.

on 2013-03-13, 08:14
Another one, marvellous. Sad

Although I`d have to admit I have barely used my Ladbrokes account on Microgaming lately. Very few interesting tournies on there these days.

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hmrcustoms
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Re: Not another one - Ladbrokes. iPoker. You can guess the rest.

on 2013-03-13, 11:58
I multi site alot and Ipoker will not allow multiple sites open so not a good move really.

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OnTheGreen
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Re: Not another one - Ladbrokes. iPoker. You can guess the rest.

on 2013-03-13, 19:46
hmrcustoms wrote:I multi site alot and Ipoker will not allow multiple sites open so not a good move really.
Dont think any of them do, do they? But the way all the big names are jumping on the ipoker bandwagon it cant be good for the other networks. Will it soon just be ipoker and Pokerstars/FullTilt???
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