Ladbrokes Expands into SA Gambling Market

February 19 - Following the lead of several other UK bookmakers as they enter the South African gambling market ahead of the World Cup, Ladbrokes plc has announced the formation of a joint venture to launch an online sportsbook.

The partnership with the local KaiRo International Group will see Ladbrokes form a solid footprint in the country's sports betting market in time for the FIFA soccer event due to kick off in June.

The joint venture will have the companies apply for a license from the Western Cape gambling board.

Should the license be approved, the new service should be up and running before the World Cup under the Ladbrokes.co.za domain.

KaiRo International, with which Ladbrokes will form a 60:40 JV, runs casinos and electronic gaming rooms in South Africa and beyond its borders to the rest of the continent.

"The directors of KaiRo are proud to have signed the agreement with Ladbrokes and are looking forward to bringing one of the world's leading brands into the South African market," said the Managing Director of the group, Mustafa Koc.

Victor Chandler recently received licensing approval from the Western Cape gambling board, while 888's subsidiary Dragonfish signed a deal with Tsogo Sun Gaming last year.

"We look forward to the launch of Ladbrokes.co.za as a licensed and regulated service in South Africa," said the CEO of Ladbrokes, Christopher Bell. "This is an opportunity to capitalize on a developing market."

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