UPDATE 1-Ladbrokes agrees new software deal with Microgaming

Wed Jun 15, 2011 2:36am EDT

* Says in talks with other suppliers

* Expects more supply agreements in coming months

(Adds details)

LONDON, June 15 (Reuters) - Britain's biggest bookmaker Ladbrokes (LAD.L) said it had signed a new agreement for Microgaming to provide casino and games software for its website and was looking for further deals with other suppliers.

Ladbrokes, which has more than 2,700 betting shops and takes bets worth around 15 billion pounds ($24.6 billion) each year, said the terms offer both parties revenue growth opportunities.

"Microgaming has a proven track record and product range and this new agreement offers us the opportunity to maximise our relationship in the future," Chief Executive Richard Glynn said on Wednesday.

Microgaming has been a provider of software to Ladbrokes for over ten years.

In April, Ladbrokes pulled out of talks over the purchase of online rival 888 -- a deal which could have seen it adopt 888's software rather than look for external suppliers.

Ladbrokes also said the rollout of new gaming machines to its betting shops, following a new supply deal with Global Draw last year, had been completed at the end of May, one month ahead of schedule.

The bookmaker said it is in discussions with a number of other suppliers and expects to confirm new agreements in the coming months.

(Reporting by Matt Scuffham; Editing by Rhys Jones)

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