Ladbrokes signs Joint Venture to target South African market
Global Betting and Gaming Consultants estimate that the online sportsbetting market in South Africa is worth £54.9 million and will grow to £77.7 million by 2012.
Ladbrokes, one of the world’s leading gaming companies, has announced that it has signed a Joint Venture agreement to target the South African market through the launch of an online sportsbook that is licensed and regulated in South Africa.
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The 60:40 Joint Venture is with KaiRo International Group which currently operates casinos and electronic gaming rooms throughout Africa, and is also the marketing partner for Ladbrokes.com throughout the continent.
Under the terms of the new agreement a licence application has been made in the Western Cape Province of South Africa and once approved, the new service – www.ladbrokes.co.za will launch later this year.
The South African betting and gaming market is developing and the move marks Ladbrokes intention to increase its offering in the region. The licence will allow Ladbrokes PLC to advertise its online betting on a national level on TV, radio, print and the internet – something unlicensed operators are restricted from doing. Through engaging marketing campaigns Ladbrokes hopes to raise brand awareness and acquire new customers in order to grow its market share.
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Mustafa K., Managing Director of KaiRo, said: “The directors of KaiRo are proud to have signed the agreement with Ladbrokes and are looking forward to bringing one the world’s leading betting brands into the South African market.”
Commenting on the news, Christopher B., Chief Executive of Ladbrokes said: “We look forward to the launch of Ladbrokes.co.za as a licensed and regulated service in South Africa. This is an opportunity to capitalise on a developing market.”
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