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Madrid licence for Cirs-Ladbrokes JV

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17th April 2008, 08:48 PM

jetset

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Madrid licence for Cirs-Ladbrokes JV

LADDIES GETS MADRID LICENCE

Joint venture with Cirsa set to pay off under liberalised regional betting policies

Sportium, the 50-50 sportsbetting venture between Cirsa Slot and Ladbrokes has been awarded a license for the Madrid region, opening up strong possibilities for the new company, which is headed by CEO Alberto Eljarrat.

The group plans to open up to 70 outlets by the end of the year, and in 2007 announced an investment in the venture of Euro 30 million, forecasting more than 150 betting points employing 150 people in the first year.

Initially the activity will be focused on sporting bets, covering a broad range of sports that will include soccer, golf, tennis, basketball and flat racing, among others. Turnover is expected to reach Euro 80 million for the first year of operation.

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