The UK subsidiary of Dublin-listed Worldspreads Group has signed an exclusive agreement to provide UK bookmakers Ladbrokes with its financial spread-betting service.
Under the deal, WorldSpreads will provide an online trading service offering financial spread bets on market instruments, such as stock indices, individual shares, currencies, commodities and interest rates, with Ladbrokes promoting this service to its customers.
Deal consistent with long-term strategy
“This partnership is consistent with one of our long-term growth strategies, which is to form alliances with companies that have complementary client databases,” said Worldspreads CEO Conor Foley.
“We are confident that the financial spread-betting product will be favourably received by Ladbrokes’ customers and we look forward to working with the team at Ladbrokes in building an additional successful revenue channel for both them and us,” he added.
Spread-betting has potential
Christopher Bell, chief executive of Ladbrokes plc, commented: “Spread-betting is an increasingly popular choice for people wishing to bet on financial markets and we believe there is significant potential for a brand like Ladbrokes to extend its appeal to the broader betting and gaming market.”
WorldSpreads Group plc, which is headquartered in Dublin, last year sold its Irish operation to a group led by members of the Irish-based trading team.
Article courtesy of Businessandleadership.com