Ladbrokes has today said that it has signed a Joint Venture to target the South African market. It will launch an online sportsbook that is licensed and regulated in South Africa.
The venture is in partnership is with KaiRo International Group which currently operates casinos and electronic gaming rooms throughout Africa. KaiRo is already the marketing partner for throughout the continent.
Ladbrokes said that a licence application has been made in the Western Cape Province of South Africa.
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 to advertise its online betting on a national level on TV, radio, print and the internet – something unlicensed operators are restricted from doing.
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.
Christopher Bell, Chief Executive of Ladbrokes coomented, “We look forward to the launch of as a licensed and regulated service in South Africa. This is an opportunity to capitalise on a developing market.”
Notes for editors:
GBGC is an independent, specialist consultancy firm dedicated to providing data, research and advice to the international gambling industry.
GBGC also produces the comprehensive Global Gambling Report, currently in its fourth edition, as well as data and analysis on the Interactive Gambling sector.
The gambling statistics and forecasts that are contained within the Global Gambling Report have become widely recognised within the industry, the financial community and the Media, as the industry standard for sizing both the online and offline gambling markets.