Ladbrokes Plc has entered into negotiations to purchase betting exchange operator Global Betting Exchange (GBE), which trades as Betdaq. The Dublin, Ireland-based company allows gamblers to formulate their own odds rather than relying on those set by a bookmaker. Ladbrokes wants to acquire the platform to bolster its own online operations.
"Ladbrokes enjoys a close commercial cooperation with Betdaq and can confirm discussions regarding a potential future acquisition," the London-based bookmaker said in a statement Monday.
The Guardian newspaper reported Ladbrokes is prepared to pay about $48.2 million for the business. Ladbrokes in January 2012 entered the Nevada gaming market when it paid $3 million to acquire 65 percent of Stadium Technology Group, a Las Vegas-based supplier of software and in-gaming betting applications to sports book operators.