UK bookmaker Ladbrokes has made its first move into the regulated Australian online sports betting market with the acquisition of Gaming Investments Pty Ltd (GIPL), owner of licensed online sportsbook, for an initial consideration of approximately AUD$22.5m (€15.4m).

The deal is intended to extend the global reach of the company and provides a “low cost entry” into the regulated and growing Australian sports betting market.

The acquisition of will see the company take over ownership of an independently developed betting software platform created specifically for the Australian market, with product features such as "Favourite vs. the field", "Pick your own odds" and "Quickbet".

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