Pools operator Sportech has agreed a £51 million deal with Ladbrokes to buy rival pools company Vernons. The gaming firm said that it would pay £45 million up front, followed by two annual instalments of £3 million.

Ian Penrose, Sportech Chief Executive told news agency Reuters that the firm planned to revamp the image of the pools by renaming it, bringing in new games and offering roll-over million pound jackpots to win back players.

Shares in Sportech jumped by over 10 per cent after the announcement.