Tag: Ladbrokes full-year results
‘Disappointing’ online performance to hit Ladbrokes full-year results
October 2, 2013
iGaming Business – UK bookmaker Ladbrokes warned today (Thursday) that its full-year financial results for its online operations would be well below expectations. Ladbrokes, which brought forward its trading update from October, said that its digital business would post full-year operating profit of between £10 million (€11.9 million/$16 million) this year in comparison with a market forecast of £27.5 million. By 10am this morning, Ladbrokes’ share price had fallen by nearly 8%. “Our digital earnings have been disappointing reflecting a lack of competitiveness in sportsbook, lower margins than planned and a greater disruptive impact than expected from the transition necessary…