Reporting over the weekend in its Business section, the Sunday Times in the UK said that Brit bookie group Ladbrokes has formed a joint venture with Megainfo, a Hong Kong-based technology company.

Withour giving further details on the company or its area of expertise, the report said that the objective was to develop products for the Chinese betting market. Ladbrokes has apparently invested about 320 000 for a 49 percent stake in the business, which is to be rebranded Asia Gaming Technologies.