Ladbrokes 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.
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 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 to advertise its online betting on a national level on television, radio, print and the internet.
Commenting on the news, Christopher Bell, CEO of Ladbrokes, said: "This is an opportunity to capitalise on a developing market."
