Ladbrokes Profits up Strongly on 'Bookie Friendly' Results
Ladbrokes benefits up strongly on 'bookmaker friendly' results
Ladbrokes has reported a ₤ 25.2 m profit for the first 6 months of the year compared with in 2015's ₤ 51.4 m loss.
The bookmaker states this strong, external efficiency remains in part due to "sporting gods" being on its side.
It mentions a run of "bookie friendly" outcomes, like that of the European Championship, where England and Northern Ireland exited early.
Ladbrokes, which prepares to combine with competing Coral, says a run of "client friendly" outcomes will follow.
It states it remains in talks with possible purchasers for around 400 shops it needs to cost the merger to go through.
The results show that customers are responding positively to the business's new method "at a time when the sporting gods have typically been on our side and we've taken pleasure in some practical bookie friendly results", stated president, Jim Mullen.
"History would highly determine that such a run of lead to our favour would see customer staking suffer, however encouragingly these numbers securely buck that pattern and combine strong staking and a great margin."
"However, 130 years of experience in sports betting has actually shown us that we will sustain a run of customer friendly results and margins will normalise," he included.
Biggest bookie
Ladbrokes, the UK's second-biggest bookmaker, revealed its planned ₤ 2.3 bm merger with Gala Coral, the third-biggest, in July in 2015.
The offer will make it the largest bookmaker in the country, however last month the Competition and Markets Authority, external said it had determined 642 cities where the merger would hit competitors.
It stated the 2 business should sell in between 350 and 400 buy the merger to be cleared.
Ladbrokes benefits up strongly on 'bookmaker friendly' results
Ladbrokes has reported a ₤ 25.2 m profit for the first 6 months of the year compared with in 2015's ₤ 51.4 m loss.
The bookmaker states this strong, external efficiency remains in part due to "sporting gods" being on its side.
It mentions a run of "bookie friendly" outcomes, like that of the European Championship, where England and Northern Ireland exited early.
Ladbrokes, which prepares to combine with competing Coral, says a run of "client friendly" outcomes will follow.
It states it remains in talks with possible purchasers for around 400 shops it needs to cost the merger to go through.
The results show that customers are responding positively to the business's new method "at a time when the sporting gods have typically been on our side and we've taken pleasure in some practical bookie friendly results", stated president, Jim Mullen.
"History would highly determine that such a run of lead to our favour would see customer staking suffer, however encouragingly these numbers securely buck that pattern and combine strong staking and a great margin."
"However, 130 years of experience in sports betting has actually shown us that we will sustain a run of customer friendly results and margins will normalise," he included.
Biggest bookie
Ladbrokes, the UK's second-biggest bookmaker, revealed its planned ₤ 2.3 bm merger with Gala Coral, the third-biggest, in July in 2015.
The offer will make it the largest bookmaker in the country, however last month the Competition and Markets Authority, external said it had determined 642 cities where the merger would hit competitors.
It stated the 2 business should sell in between 350 and 400 buy the merger to be cleared.