Ladbrokes Into Bingo
26th February, 2008
According to the Sunday Times newspaper, Ladbrokes Plc , one of the leading UK online gambling operators, is considering moving into the bingo industry by buying out the online bingo specialist, Parlay Entertainment.
Parlay Entertainment holds a value of around 6.5 mln stg, according to the Toronto Stock exchange, where it is listed. It runs games on behalf of other companies, acting in a way as a franchisee, but for many businesses simultaneously, such as Butlins, Ann Summers and Yahoo.
Online bingo industry is representing an attractive market right now, since the popularity of land-based bingo halls went down since the smoking ban. The market is less competitive than casino, poker and sports betting market, considering that in those three the market saturation became very tight after America, which accounted for a huge share of sales is now out, leaving the operators to compete in a less promising environment.
