Betting firm Ladbrokes reveals talks to acquire Irish partner Betdaq

UK online betting and gaming company Ladbrokes plc (LON:LAD) confirmed on Monday it was in talks to potentially take over Irish online sports betting exchange Betdaq.

While the parties, which are in close commercial cooperation, are currently negotiating a deal, there is no guarantee they will reach an agreement, Ladbrokes said.

According to a report from The Times on Saturday, Ladbrokes is weeks away from striking an estimated GBP30m (USD48.1m/EUR36.9m) deal to buy Betdaq. Talks on an acquisition are thought to have commenced almost a year ago and analysts now believe they are moving towards close, The Times said.

A deal is seen to be reached at the end of January or in early February, the paper said, quoting one analyst.

Betdaq is controlled by Dermot Desmond.