Entain, owner of Ladbrokes Coral, sells Betdaq to founder Dermot Desmond | Horse racing news

Alan Crowhurst (Getty Photos)

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Betdaq: sold to Ladbrokes for 30 million euros in 2013

Alan Crowhurst (Getty Photographs)

by Jack Haynes
Updated 18:04, 25 NOV 2021

Betdaq was resold to its founder and Irish tycoon Dermot Desmond, eight many years immediately after its sale to Ladbrokes.

At present the second biggest betting trade, Betdaq, which began operating in 2001, was bought to Ladbrokes for € 30 million (£ 25 million) in 2013.

The sale was confirmed Thursday by Entain, the dad or mum company of Ladbrokes Coral. The price tag Desmond compensated for the organization is unfamiliar, even though reports propose it is substantially significantly less than £ 25 million.

From December 1st, Betdaq shopper funds, at this time held on behalf of LC Global Minimal by Ladbrokes, will be transferred to Betdaq Trustee Enterprise Limited on behalf of Exchange Platform Methods Constrained, guaranteeing the same degree of safety for bettors. Purchaser account history will continue to be accessible on the net as very well.

Mark Runnacles

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Dermot Desmond is the majority shareholder of Celtic FC

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Dermot Desmond is the the greater part shareholder of Celtic FC

Mark Runnacles

Betdaq is licensed from Gibraltar, with the betting exchange operator supplying marketplaces on a number of global sporting events as nicely as remaining concerned in horse racing and soccer club sponsorship bargains in the earlier.

The firm sponsored the Winner Hurdle at the Punchestown competition from 2016 to 2019, for the duration of which the Grade 1 celebration was received by Vroum Vroum Magazine, Wicklow Courageous, Supasundae and Buveur D’Air. He also sponsored the Dee Stakes in Chester in 2016 and the Adonis Juvenile Hurdle working day in Kempton two decades later on.

Desmond’s web truly worth is believed at £ 1.5 billion and he is the vast majority shareholder of Celtic Football Club. He commenced his occupation in finance at Citibank and founded NCB Stockbrokers in 1981, which grew to become the most significant organization of Ireland’s impartial brokerage.

With proceeds from the sale of NCB in 1994, Desmond started the non-public equity agency Global Expense & Underwriting, which now has stakes in travel application organization Datalex, mining company Mountain Province Diamonds, and provider firm Barchester Healthcare.

A spokesperson for Entain reported: “We can ensure that Entain has agreed to market the Betdaq company to Dermot Desmond for an undisclosed sum.”

To know extra:

Conclusion of an period when Tully Bookmakers sell their past ten shops following 44 a long time

New York condition approves floating licenses for US functions of Entain and Flutter

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1st PUBLICATION 17:00, 25 NOV 2021

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