Gambling operator Ladbrokes announced that it has recently inked a deal with World Snooker, under the terms of which the gambling company would sponsor this year’s World Grand Prix and Players Championship.
Chaired by Barry Hearn, World Snooker is a commercial entity that oversees the promotion of snooker events. It is also in charge of the sport’s commercial rights.
Among other things, the recently signed agreement gives Ladbrokes exclusive naming rights over the above-mentioned two tournaments. Ladbrokes World Grand Prix, as it is to be called this year, is slated to take place in Llandudno, Wales from March 8-13. As for Ladbrokes Players Championship, it is to be held on March 22-27 in Manchester. The two tournaments are set to be broadcast live.
As part of the sponsorship deal, Ladbrokes promised that it would double the bonus for any player who manages to score a 147 break.
This is not the first time when the gambling operator sponsors a major snooker tournament. In 2012, it backed the Masters that took place at Wembley. Apart from its sponsorship deal with World Snooker, Ladbrokes had formerly inked similar agreements with the Scottish Professional Football League and the Rugby Leagues’s Challenge Cup.
Commenting on the latest announcement, Ladbrokes Chief Marketing Officer Kristof Fahy said that they aim at constantly bolstering their sponsorship portfolio and that adding the two snooker tournaments will be good for the company. The official further noted that Ladbrokes will be building its brand in a sport that has proved to be found appealing to betting customers over the past year, with in-play stakes accounting for 80% of all bets placed on the sport in 2015.
Mr. Fahy also added that Ladbrokes’ sponsorship has never been just “sticking ribbons on a trophy” and that they will do their best to raise the profile of the two tournaments even more. The official joined the gambling company as its new Chief Marketing Officer early in 2016.
Barry Hearn, Chairman of World Snooker, added that their delighted to be working with Ladbrokes as title sponsor for both events. Commenting on the two tournaments, he noted that they both will see some of the best snooker players in the world contending for a first-place prize of £100,000.
