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LADBROKE RACING CORPORATION ENTERS ARGENTINA MARKET

 LIVONIA, Mich., Jan. 20 /PRNewswire/ -- Ladbroke Racing Corporation, the U.S. division of Ladbroke Group PLC, plans to open at least 70 off-track betting (OTB) facilities in Argentina over the next five years, as a result of an agreement reached with Hipodromo Argentino de Palermo S.A. (HAPSA), it was announced today.
 Under this agreement, Ladbroke has acquired the exclusive rights throughout Argentina for the distribution and marketing of pari-mutuel betting on Palermo's racing signal to both the small number of existing OTB outlets held by HAPSA and its own planned facilities.
 This agreement is Ladbroke's first South American venture. The Palermo racecourse is one of the country's two premier tracks and enjoys a magnificent setting in the heart of Buenos Aires close to the River Plate. Thoroughbred racing is held at Palermo three times a week throughout the year.
 "Our racing operations have been following the situation in Argentina closely for two years," said Ladbroke Group PLC's Joint Managing Director, Peter George. "Horse racing and betting occupy a prominent and well-established place in the country's leisure industry and we are delighted to have gained the opportunity to be the leading off-track betting operator in the country."
 -0- 1/20/93
 /CONTACT: Karen Hildebrandt of Ladbroke Racing Corporation, 313-548-4214, or Bob Sabot of Ladbroke at The Meadows, 412-225-9300/


CO: Ladbroke Racing Corporation; Ladbroke Group PLC; Hipodromo
 Argentino de Palermo S.A. ST: Michigan IN: CNO SU: JVN


CD-EF -- PG001 -- 6700 01/20/93 07:55 EST
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Publication:PR Newswire
Date:Jan 20, 1993
Words:246
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