Global betting operator, Ladbrokes, has several developments to report, some of which is speculation amidst the casino gambling industry. That which has been confirmed is Ladbrokes interest in tapping into new European markets, including Italy and Spain. Company CEO, Christopher Bell, revealed in a conference call that Ladbrokes is essentially a shoe-in to become one of the few recipients of an online gaming license at the hands of the Italian government.

The news, which came at the same time as a trading updates revealed Ladbrokes taking a hit in October at the UK horseracing tracks and Champions League football, means that Ladbrokes will be allowed to take online sports bets from Italian citizens - a service that could very well begin as early as Summer of 2007.

Ladbrokes is planning a major infiltration into Italy and deeper into Europe, having already purchased 20 Italian betting shops there this year (three shops this week in Turin alone) and planning an estate of approximately 200 shops total in Italy. Furthermore, Ladbrokes is keeping its eyes on Spain, and should know by early 2007 what their prospects are of becoming a government licensed online gaming operator in that part of Europe.

Bell talked down the trading results and announced that the company had gross profit of 10% and ongoing profit of 5% from current operations. Ladbroke's online poker site continues to rank well, averaging about 677 new real money players per week. With online casino gaming operating costs dropping from 27% to 10% since the start of July '06, gross profit from online revenues was up by 17%. Even more promising was a 30% retention rate of customers who opened accounts at the time of the 2006 World Cup.

When all is said and done, Ladbrokes has been doing quite well for itself as of late. The company was hardly affected by a U.S. ban on online casino gambling, while further diversification and expansion in new gaming markets has proven to be a wise undertaking. In fact, there is current speculation that Ladbrokes is in talks to merge with 888 online casino, as well as purchasing Dublin-based bookmaker, Betdaq.

Although Betdaq has denied reports published by The Irish Independent and Thoroughbred Times citing negotiations, sources close to Ladbrokes have confirmed the UK company is in negotiations with Dermot Desmond's gambling empire, which includes Betdaq, a casino, betting pitches and shops. At this stage, it appears the two sides are trying to come to a mutual agreement in regards to the selling price.