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. 

BetOnline

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

Gambling News

Bitcoin Catapults Above $4K Mark

Bitcoin Catapults Above $4K Mark

The cryptocurrency Bitcoin had risen above the $4000 mark Saturday afternoon, trading at $4111 at 2:38 pm EST.

Connecticut to Hold Sports Betting Hearing Tuesday

Connecticut to Hold Sports Betting Hearing Tuesday

There was lots of interest in betting sports at Connecticut's famed Mohegan Sun and Foxwoods casinos following news that a hearing on the topic is set to take place at 10 am this coming Tuesday. 

Caesars Offers Few Clues on State of Talks With Carl Icahn

Caesars Entertainment Corp. gave few clues Thursday as to the status of its talks with billionaire Carl Icahn, who has taken a large stake in the casino giant and says he wants fundamental changes in the company.

Where Can I Bet the Oscars Online From Georgia?

Where Can I Bet the Oscars Online From Georgia?

You can bet the Oscars online from Georgia using any number of internationally-based websites.  Georgia itself does not host online sports betting sites that would offer Oscar betting.

Other Football Lagues Seek Boost From Legal Sports Betting

Other Football Lagues Seek Boost From Legal Sports Betting

The National Football League is king when it comes to legal sports bets, but other professional gridiron leagues are also looking to embrace and profit from it.

Syndicate