Ladbrokes bets on Nordic market

Gambling group Ladbrokes has continued its European expansion, buying Sponsio – an online gaming firm in Sweden, Norway, Denmark and Finland.

The British bookmaker already had a partnership deal with the company but said the £36m purchase would bolster its position in the region.

Spending on gambling per capita in the Nordic area is among the highest in Europe, Ladbrokes said.

The bookmaker has targeted the Spanish and Italian markets in the last month.

In Spain it is starting an alliance with Spanish slot machine firm Cirsa Slot, whose machines are found in bars and arcades.

In December, Ladbrokes gained licences to operate betting outlets in Italy.

Since new laws effectively made online gaming illegal in the US, gambling firms have been looking to snap up other sections of the internet betting market.