UK bookmaker Ladbrokes plc has made its first move into the U.S sports betting market with the signing of an agreement to acquire a majority stake in Stadium Technology Group, a Las Vegas-based supplier of risk management and in-play betting software to licensed race and sportsbook operators.

Ladbrokes will initially invest $3m to acquire a 65 per cent majority stake in the business, with a retained option to buy the remaining 35 per cent of the business over the next five years on a performance-related basis.

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