Betting company Ladbrokes Venture into Italian Market
UK casino giant Ladbrokes are extending their successful operation into the Italian market in a bid to capture the growing interest online betting sweeping the country.
The Italian gambling regulator Amministrazione Autonoma Dei Monopoli Di Stato granted Ladbrokes a license to add poker to their Ladbrokes.com domain a move which is predicted will bring huge profits for the company. Next year the Italian gambling market is expected to be the biggest in Europe with turnover figures of €2.2 billion in turnover forecast.
Off the back of these figures Ladbrokes commented that: “According to H2 Capital, regulated poker in Italy will generate €280 million in gross revenues for operators in 2009. With regulations set to allow cash games and casino gaming, the onshore regulated market is expected to generate gross revenues of approximately €630 million during 2010 rising to nearly €800 million by 2012.”
With online poker becoming more and more popular across the world it looks like Ladbrokes’ move will see them become one of the biggest online poker operators in the country. Having lost a lot of ground in the tough UK market to the likes of iPoker, Full Tilt and Pokerstars this expansion could be a huge coup for them if they are able to establish themselves as one of the frontrunners in the Italian online poker market.