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Ladbrokes Forms SA Online Betting Joint Venture

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Ahead of the 2010 World Cup in South Africa, Ladbrokes, one of the
UK’s largest land and online betting and gambling operations, has formed a joint
venture with KaiRo International Group, a leading land and online casino
marketing company which operates throughout Africa.

When Ladbrokes recognized the potential of the South African online gambling
market, it entered into a 60/40 joint venture with KaiRo to gain a foothold in
the African nation. In fact, the joint venture is already in the process of
applying for a gambling license from South Africa’s Western Cape Province.

If granted, the license will allow Ladbrokes to advertise its new online betting
service in South Africa via national television, print, radio and the internet.
And not only will the campaign introduce Ladbrokes to South African online
gambling fans, but no doubt give the firm additional international exposure.

‘We look forward to the launch of as a licensed and regulated
service in South Africa,’ said Ladbrokes CEO, Christopher Bell. ‘This is a great
opportunity to capitalise on a developing market.’ Subject to the license, is expected to go live ahead of the World Cup in June.

Also thrilled at the joint venture and opportunities in South Africa is KaiRo
International Group MD, Mustafa Koç, ‘The directors of KaiRo are very proud to
have signed the agreement with Ladbrokes and are looking forward to bringing one
the world’s top betting brands into the South African market.’

But Ladbrokes foray into the largely untapped South African online gambling
market is not ground-breaking by any means. For instance, fellow UK land and
online betting giant, Victor Chandler, has already applied for and been granted
a license from the Western Cape Gambling and Betting Board.

And 888 Holdings, one of the world’s biggest and most successful online gambling
operations, has a presence in South Africa’s online gambling sector through its
Dragonfish subsidiary as a result of a partnership signed last year with Tsogo
Sun Gaming, a top South African hotel and entertainment group.

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