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Ladbrokes Predicted 32.8 percent drop in profits
Thursday March 20,2014 : LADBROKES CONFIRMS A DISMAL 2013 PERFORMANCE (Update)
Predicted 32.8 percent drop in profits reflected in newly released annual report.
The troubled land and online gambling group Ladbrokes released its formal annual report this week, confirming earlier warnings that it was not going to make happy reading for investors.
The group continues to trail behind its peers in the online and mobile sectors, with just 15.7 percent (down slightly at GBP 175 million) of overall revenues being generated by the digital division despite the much promised improvements expected to flow from the switch in software provider to Playtech.
By contrast the UK land operations contributed 72.1 percent of net revenue, although that could decline in future following Management's decision to cut back on investment in this division in order to boost digital activity. European retail operations delivered almost 12 percent of net revenues.
Group net revenue came in at GBP 1,111.3 million in 2013, down again, this time by 0.6 percent, but more importantly profits dropped by a worrying 32.8 percent.
Creating widespread comment despite the contractual nature of the remuneration was the package awarded to embattled CEO Richard Glynn. His total package came in at GBP 4.7 million...a remarkable 85 percent increase on his rewards in 2012.
Both CEO Glynn and chairman Peter Erskine remain upbeat about the future, saying that significant operational progress has been made and things should get better.
New Racing UK free-to-watch show -
Wake up to Luck on Sunday – join Nick Luck and guests for new Racing UK free-to-watch show. BHA Chief Executive Nick Rust to appear on first broadcast this Sunday
MLB Odds: Stroman Gets the Nod Against Royals -
The Toronto Blue Jays (70-80, –20.18 betting units) begin their final home stand of the 2017 campaign this Tuesday when they welcome the Kansas City Royals (73-76, +2.56 units) to Rogers Centre. Sportsnet has the coverage at 7:07 p.m. Eastern.
Microgaming QuickFire enters Coloumbia -
Wplay signs for Quickfire; strategic deal sees Quickfire enter Colombian market. Colombian-licensee Wplay has signed a deal for Quickfire, powered by Microgaming.
Partypoker to sponsor WSOPC Uruguay -
Partypoker to sponsor WSOPC Uruguay in December. Qualify exclusively on partypoker for WSOP Uruguay Main Event. December 7th to 17th in beautiful Punta del Este.
MLB Odds: Jays Hope to Spoil Orioles’ Visit -
The 2017 season is just about over for the Toronto Blue Jays (66-77, –21.19 betting units), but they can play spoiler in Tuesday’s game against the visiting Baltimore Orioles, starting at 7:07 PM ET on Sportsnet.
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Money Storm is not your typical online casino. While many focus on the quantity of games they offer their players, this one is more focused on the quality of their games.
Big Online SLot Win on Ultimate 10X Slot -
At 9.20PM on August 28th, Kasey R was enjoying the new Ultimate 10X three-reel slot at Miami Club. The game has a random 'must win' progressive jackpot that is guaranteed to pay by the time it reaches $25,000
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