Ladbrokes lose interest in Sportingbet

Regulatory concerns that have arisen for the betting shop Ladbrokes, this has meant they have ended discussions with the Sportingbet website. Those concerns came from Turkey. A spokesperson from the company commented, “When we began these discussions we were aware that there were going to be benefits and costs to analyse. The regulations that we could be coming up against are just too much of a risk, and they outweigh the potential benefits. Therefore we have decided to end our discussions with Sportingbet.

According to reports in the media, the regulatory concerns were over the website that Sportingbet operates in Turkey. Just last week, Sportingbet had announced that it was considering closing the website so that negotiations could continue. Whether it will continue to dispose of this website despite the falling negotiations is still unknown.

Evolution Securities analyst is James Hollins and he has said about the collapsed negotiations, “It is surprising to see these talks fall apart. For one, we thought that Sportingbet would be able to close its website in Turkey so there would be no regulatory problems. Also, it was thought that Sportingbet would be able to defend the exposure that it has in the country. Our opinion is that Ladbrokes lawyers are being extra careful, while the CEO of the company has bold expansion ideas, they are being hampered by legal caution.”