Dire Warning for Ladbrokes Head: ‘Better Capitalize on World Cup or Else’

Dire Warning for Ladbrokes Head: ‘Better Capitalize on World Cup or Else’

Written by:

Aaron Goldstein

Published on:

Feb/26/2014

Dire Warning for Ladbrokes Head: ‘Better Capitalize on World Cup or Else’

Embattled Ladbrokes CEO Richard Glynn faces the axe this coming August if he can’t turn things around at the UK’s second largest bookmaking firm.

Investors issued a stern warning that Ladbrokes must be able to capitalize on the upcoming FIFA World Cup should Glynn intend to keep his job.

pre-tax profits, released Tuesday, were £67.6m, down 66% on 2012, dragged down by £51.6m in exceptional costs driven largely by a software upgrade.

Glynn admitted the results were "disappointing", but insisted it had made "real operational progress".

The company also announced it will be shutting down between 40 to 50 shops throughout the UK this year.

Ladbrokes said its profits had also been hit by a greater than expected slowdown in gaming machine revenues.

- Aaron Goldstein, Gambling911.com

View the discussion thread.

Endorsed by Gambling911

Gambling News

Gambling911: Costa Rica Must be More Transparent Regarding 5Dimes Owner Demise

Gambling911: Costa Rica Must be More Transparent Regarding 5Dimes Owner Demise

Late Saturday night the Costa Rica Star reported that 5Dimes Sportsbook owner Sean "Tony" Creighton's body had been recovered. He had been missing for three weeks and presumed abducted.

5Dimes Owner Found Dead

The body of Sean "Tony" Creighton has been found by law enforcement in Costa Rica. Creighton was the founder and owner of the popular sportsbook 5Dimes. Details are murky at this time.

Illinois Legislator Working on Bringing Sports Betting to That State

Illinois Legislator Working on Bringing Sports Betting to That State

An Illinois lawmaker says a bill to legalize sports gambling in the state likely won't be put before the General Assembly until next year.

Wife and Manager of Kidnapped 5Dimes Owner Met to Make Payment

Wife and Manager of Kidnapped 5Dimes Owner Met to Make Payment

A Diario report reveals that the wife of kidnapped 5Dimes owner communicated with a manager of the betting firm to send more than $700K in bitcoin ransom to Cuba hours after Sean "Tony" Creighton allegedly disappeared.

New Study Shows More Americans Support Legalized Gambling

New Study Shows More Americans Support Legalized Sports Betting

A new report using data from the Life, Liberty, and Happiness survey conducted by East Carolina University’s Center for Survey Research confirms that many Americans support legalized gambling on professional sports.

Syndicate