Hilton Group PLC, the operator of 210 Hilton hotels outside the U.S. and 1,900 Ladbroke betting shops in Britain , has officially cast itself as the latest addition to the online sports betting mix in Europe. Formed by the takeover of the Stakis hotels business by Ladbroke PLC, the company recently announced plans to sell off its international gaming and betting business and focus its efforts on offshore telephone and Internet betting.
The company's offshore gaming operation in the Mediterranean tax haven of Gibraltar will become a separate global business unit which will offer customers telephone and Internet betting from anywhere in the world. The new business, Ladrokes International, will begin taking bets in October and will employ a workforce of around 200 people by the end of the year. It will offer Internet betting for international customers at www.ladbrokes.com, which will launch sometime next year.
The group will also launch www.bet.co.uk in the U.K. in late 1999. The site will initially feature football betting customers, although it will expand to include other sports, as well as horse racing, in 2000.
Further into the future, the company plans to advance into the development of interactive television.
The group's gaming and betting businesses include racetracks in Pennsylvania and California, casinos in Colorado and bingo halls in South America. Chief Executive Peter George says the group has already received several inquiries, although it could take a while before a sale is complete. He doesn't expect the group's exit from betting and gaming to effect earnings.