Ladbrokes not pursuing US market

The recent crackdown on online gambling in the United States is sending quite a clear message to other online gambling and betting companies. This “do not mess with us” stance is really rattling the many companies that deal with online gambling and preventing them from really making any concrete moves towards Northern America.For example, the British bookmaker Ladbrokes has recently announced that it has decided to postpone its entry into the United States market. The company has instead said that it is opting to tap into the Italian market through a reported €100 million (£68 million) joint venture investment with the Italian betting company Pianetta Scommesse.

This important decision was reached after Ladbrokes chief executive Chris Bell revealed that he had conceded that the situation that BetOnSports has found itself in has actually affected the way the company has reviewed the US market for internet gambling. Bell has admitted that any potential to provide the US market with any online casino and poker games is predicated on the outcome fo the forthcoming Bill. Bell has actually claimed that everything “remains a wait and see situation.”

The company’s foray into the Italian market is said to be the first step in a planned investment program that is worth €100 million over five years. The plan is to have a strong focus on both the internet and terrestrial betting models. Ladbrokes has said that it has acquired a 51 per cent share in Pianetta Scommesse that is estimated at around €1.3 million. This makes Ladbrokes an accredited operator with the future option to buy out its partner.

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