Slaughter and May corporate partner Richard De Carle advised longstanding client Labrokes on the fully underwritten share issue.
Linklaters won the instruction to act for the group of banking sponsors and underwriters, which included UBS, Deutsche Bank, Barclays, Lloyds TSB and RBS.
Corporate partner Jessamy Gallagher led the Linklaters team.
Slaughters has been lead corporate adviser to Ladbrokes for more than a decade. In 2006, De Carle acted for the company during merger talks with betting website 888.com.
Labrokes rival William Hill also turned to shareholders to raise extra cash earlier this year. Ashurst advised the company for the £350m rights issue and Skadden Arps Slate Meagher & Flom acted for the banks (27 February 2009).