Ladbrokes in 888 takeover talks

Ladbrokes has confirmed it is in talks that could lead to it buying online rival 888 Holdings.

Ladbrokes' Ian Wright campaign
Ladbrokes’ Ian Wright campaign

Weekend reports suggested Ladbrokes had been considering an offer worth about 70 pence per share, which would value the Gibraltar-based 888 at about £240m.

Ladbrokes says it is in “very preliminary discussions” with 888, adding “there can be no certainty that these discussions will ultimately lead to an offer”.

888 adds that “at this stage there can be no certainty that these discussions will result in a formal offer being made for the company”.

Ladbrokes tried to buy 888 in 2006 but was deterred by a US clampdown on internet betting.

The bookmaker, which has more than 2,200 betting shops, is trying to grow its online operations under the stewardship of recently appointed chief executive Richard Glynn.

It is also trying to bolster brand marketing and loyalty by restructuring its marketing department and appointing former Thomas Cook and Sainsbury’s marketer Stephen Vowles to lead the new team.

888 brands include Pacific Poker, 888bingo and Foxy Bingo.

Latest from Marketing Week

Marketing Week Meets… Mark Ritson

The Marketing Week columnist, consultant and professor explains why marketers need to talk about “making money first”, in a podcast recorded at the Festival of Marketing in October.

NOT REGISTERED? IT'S FREE, QUICK AND EASY!

Access Marketing Week’s wealth of insight, analysis and opinion that will help you do your job better.

Register and receive the best content from the only UK title 100% dedicated to serving marketers' needs.

We’ll ask you just a few questions about what you do and where you work. The more we know about our visitors, the better and more relevant content we can provide for them. And, yes, knowing our audience better helps us find commercial partners too. Don't worry, we won't share your information with other parties, unless you give us permission to do so.

Register now

THE BEST CONTENT

Our award winning editorial team (PPA Digital Brand of the Year) ask the big questions about the biggest issues on everything from strategy through to execution to help you navigate the fast moving modern marketing landscape.

THE BIGGEST ISSUES

From the opportunities and challenges of emerging technology to the need for greater effectiveness, from the challenge of measurement to building a marketing team fit for the future, we are your guide.

PERSONAL AND PROFESSIONAL DEVELOPMENT

Information, inspiration and advice from the marketing world and beyond that will help you develop as a marketer and as a leader.

Having problems?

Contact us on +44 (0)20 7292 3703 or email customerservices@marketingweek.com

If you are looking for our Jobs site, please click here