Lehman Brothers Likes LadbrokesLehman Brothers has classified Ladbrokes as "Overweight", and they are not referring to those 400 some odd pound bookies either.
"Overweight" is a good sign as we get deep into the new market week. Lehman Brothers believes Ladbrokes enjoys better short term prospects than its rival William Hill, partly due to its advanced expansion and better technology in the interactive business.
Lehman Brothers cited Ladbrokes higher number of amusement with prizes (AWP) machines, cost reduction in the retail network, more advanced international expansion and better technology in the interactive business.
William Hill shares were down 12 pence at 609-1/2 at close last Friday immediately following the announcement. Ladbrokes didn't fare much better. They were down 6-1/2 pence at 409-1/4.
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Gambling911.com News Wire
Originally published October 23, 2007 10:29 am ET
