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Ladbrokes shares fall after online earnings warning
bit.ly
26 September 2013
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The betting business Ladbrokes has cautioned that profit will disappoint expectations because of a frustrating performance in its online company.

Profits for its online arm will be in the range of ₤ 10-14m this promotion code year, far except the ₤ 27.5 m which had actually been anticipated, the business said in a statement.
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Shares fell 10% on the news in early trading in London.
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Ladbrokes has actually already provided one this promotion code year.
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Chief executive Richard Glynn stated that conditions had been "tough"

Last month the company reported a steep decrease in revenues, as a slowdown in gaming maker revenues dented its figures.
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Pre-tax earnings for the yohaig code first six months of 2013 were down 49% from the same duration last year, falling to ₤ 55.1 m,

In the most recent trading update, which was brought forward from next month, Mr Glynn stated: "Our digital incomes have actually been frustrating reflecting an absence of competitiveness in sportsbook, lower margins than planned, and a higher disruptive effect than anticipated from the transition necessary to grow digital for the long term".

Ladbrokes is Britain's 2nd largest bookmaker and has over 2,500 High Street stores. It has recently revealed a partnership with online video gaming software supplier Playtech, in a bid to improve its digital presence.

Elsewhere the business reported that trading in wagering stores had improved, with football bets and over the yohaig code counter stakes getting.

Richard Hunter head of equities at Hargreaves Lansdown stockbrokers said that while the share rate drop was "extreme", the company's share price hasn't carried out well just recently. It has actually increased by just 1% over the past year, while competing bookmaker William Hill has seen its shares rise by 36% in the exact same period.

"This area is very competitive, and previously high wish for the gaming sector as far as online was concerned have been rushed recently. There is still anxiousness around digital since of the regulatory environment in the US."

In 2006 the US Unlawful Internet Gambling Enforcement Act (UIGEA) effectively banned US citizens from betting online, requiring lots of companies to stop the rewarding US market.

Gaming maker slump hits Ladbrokes

8 August 2013

Ladbrokes PLC
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