Ladbrokes said it is transferring "key tasks" to its newly opened digital division in Tel Aviv and laying off 100 employees in the UK.
UK gambling giant Ladbrokes plc (LSE: LAD) is laying off as many as 100 employees involved in digital operations in Britain. "A number of key tasks" will be transferred to its newly opened Tel Aviv offices, the company said.
Ladbrokes Israel office began operating on May 1 following a partnership agreement with gambling software company Playtech Cyprus Ltd. (AIM:PTEC), controlled by Israeli entrepreneur Teddy Sagi. Playtech's five year agreement with Ladbrokes to provide consultancy to the bookmakers online services followed the sale of its 29% stake in William Hill Online to William Hill plc (LSE: WMH) for £424 million in March.
In effect Ladbrokes digital division is now based in Tel Aviv with marketing operations remaining in Harrow.
Published by Globes [online], Israel business news - www.globes-online.com - on May 22, 2013
© Copyright of Globes Publisher Itonut (1983) Ltd. 2013
Globes' correspondent and Tali Tsipori