OpenBet signs multi-million software deal with Ladbrokes
OpenBet renews long-standing relationship with Ladbrokes signing multi-million pound deal to supply operator with sportsbook and casino software.
OpenBet has renewed its long-standing relationship with Ladbrokes signing a multi-million pound deal to supply the UK operator with its sportsbook and casino software.
The costs and terms of the deal remain undisclosed, however a large part of the contract is thought to be based on revenue share performance. The financial amount involved in the contract is equally unclear, with an OpenBet statement suggesting the contract is multi-year and worth several million pounds a year. As well as initial costs Ladbrokes will also have to pay licence, support and ongoing developments costs.
After announcing in February last year that he would seek to re-negotiate all of the company’s third party supplier contracts, Richard Glynn (pictured), CEO of Ladbrokes said that he was pleased to extend its long-standing relationship with OpenBet through a “more flexible agreement which offers revenue opportunities to both parties and increases the range of games we offer”.
“This is another step on the road to developing a unique Ladbrokes customer experience,” he added.
A source close to the matter said the contract was not “fundamentally different” to the previous deal but that there were “some changes on both sides”. It is understood that Ladbrokes and specifically Glynn had been weighing up his options on whether or not to re-sign with OpenBet, however David Loveday, CEO of OpenBet told eGaming Review he was “delighted” Ladbrokes had made a “major strategic decision” to recommit to the supplier. “It’s one of the biggest deals we’ve ever done to date,” he added.
In June last year Glynn signed a new agreement with Microgaming for the supply of casino and slots software, increasing the range of products which the bookmaker can supply to customers, while in January this year Ladbrokes said it was in talks with Betdaq’s owner Dermot Desmond over a deal which would see the operator buy in the betting exchange’s pricing and trading solutions, however since then no confirmation has been given as to whether or not the deal has progressed.
Ladbrokes has been an OpenBet customer for more than a decade and was one of the UK-based software company’s first clients. It remains one of its largest customers alongside the majority of sports betting operators including William Hill, Paddy Power and SkyBet.
In February Glynn revealed the operator is set to roll out its new in-house mobile platform in the second quarter of this year, while a new online sportsbook site “ powered by Hybris technology “ is set to go live in the coming weeks. Ladbrokes has committed close to £50m in upgrading and developing new and existing technology.
Ladbrokes has also signed to OpenBet’s Remote Gaming Interface (RGI), giving it access to the supplier’s games content, while the contract will also see it commit to OpenBet’s three-year online product roadmap which, according to the supplier will “deliver improved overall online sportsbook performance, reliability and scalability”.
An OpenBet statement this morning said its sportsbook offers Ladbrokes a “flexible betting structure that can support any sporting or non-sporting event via the internet, telephone, mobile, retail and interactive TV, all through one centrally-managed book”.
OpenBet’s casino open gaming platform will give Ladbrokes the ability to create a bespoke offering from more than 1200 games, including content from its own portfolio and games delivered through OpenBet’s RGI which enables third party game suppliers to make their content available. It also includes includes the suppliers fully integrated single wallet technology, cross-platform promotion tools and full back-office controls and reporting functionality.
David Loveday, chief executive of OpenBet, said: “We have had a long and productive relationship with Ladbrokes and we look forward to the years ahead. Today’s announcement is confirmation that OpenBet not only delivers what our customers need but that we develop the necessary products that enable them to continue to grow while offering their customers the very best content and gaming experience available.”