Ladbrokes acquires majority stake in Stadium Technology Group

UK betting firm Ladbrokes recently signed an agreement to acquire a majority stake in Las Vegas-based firm Stadium Technology Group.

Stadium Technology or also know as "Stadium", is a supplier of software and in-game betting applications to the US sportsbook market. Popular land-based casinos that uses Stadium's software include: Atlantis, Cosmopolitan, Crystal Palace, Golden Nugget, Hard Rock, M Resort, Palazzo, Treasure Island and The Venetian.

Ladbrokes paid $3 million for a 65 percent stake in Stadium, a move that puts the UK company on an advantageous ground if it is to enter the US sports betting market if it is regulated and legalized.

"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." said Ladbrokes chief executive Richard Glynn.