Ladbrokes agrees new software deal with Microgaming

A man watches television screens in a Ladbrokes bookmaker in London February 19, 2009. REUTERS/Luke MacGregor

LONDON (Reuters) - The country'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 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