Ladbrokes Ireland in the KAK

I'm sure the Irish banned the FOBT machines last year, the only reason the big firms still have so many shops in the UK

www.irishtimes.com/business/retail-and-s...-creditors-1.2183730

Feel sorry for their employees whose jobs must be under threat, but have no sympathy at all for Ladbrokes as a company.

Amazing that a company that is so cash rich, would desert a business after one minuscule loss ( relatively speaking )

Wonder what percentage of UK bookies would close with out FOBTs?

75% ?

I can't decide which of the two I would sooner see the back of - FOBTs in betting shops or the UK Gambling Commission.

But the last paragraph says "Ladbrokes stressed in its statement that it will be business as usual for its 196 betting shops, ...". ?

Mac wrote: But the last paragraph says "Ladbrokes stressed in its statement that it will be business as usual for its 196 betting shops, ...". ?

Just atm , they will cut the bad Irish shops, no FOBT is no good to them, most likely they will pull out of Ireland

It will be business as usual for the next 100 days while they have protection from their creditors, but after that....

Did a wiki which says "The Scottish Parliament will have the power to prevent the proliferation of Fixed-Odds Betting Terminals".

Bob in America, I see they have slots in most racecourses that have slots machines called historical racing. In these machines you actually bet on a previously run archived horserace with apparently the same odds and form that accompanied that race. From what I gathered from Bloodhorse these machines and other slot machines in the racecourse are the lifeblood of keeping racing going in most racecourses in the USA.

Opened a load of shops and kept them going in the hope of the FOBT banned being overturned - it wasnt , they are fkced. Maybe going back to basics like taking a bet might have helped but thats not their business anymore.

When I went to Windsor on Monday,I met a pal who used to work at Ladbrokes,he now works at Unibet.Not only do they try and nick losing punters from each other,they share details of anyone they can't beat,that's a fact.
Unibet restricted my bets,but they still send me emails with free bonuses for their online casino and gaming.
The industry is finished for punters who MAY have a bit of luck now and then and want to play anything with 4 legs,4 reels and you can bet until the cows come home.

More good news

Troubled Ladbrokes reveal hefty fall in profits
BY ANDREW DIETZ 7:18AM 22 APR 2015
FOLLOWING Tuesday’s announcement that Ladbrokes seek to place their Irish division in examinership, the firm revealed further troubling news with first quarter operating profit down a hefty 22.3 per cent from the same period last year.

The financial figures, which included a group net revenue rise of 3.3 per cent, were the first to be released in new chief executive Jim Mullen's tenure and the drop in ebit (earnings before interest and taxes) to £14.3m from £18.4m was attributed to customer friendly results.

Mullen said: “In Q1 many of our customer metrics are encouraging but results have favoured customers and profits are materially down.

“These results demonstrate the challenges we continue to face. We need to change the way we run the business, build scale, primarily in digital and respond faster to the customer and changes in the market place.”

On the digital front, mobile betting was up 62.7 per cent but sportsbook gross win margin was down significantly after a run of unfavourable football results was replicated at the Cheltenham Festival when a ‘significant loss’ to a small number of high staking punters caused the damage.

Other factors cited as affecting operating profit include the UK point of consumption tax, the increased machine games duty and withdrawal from unregulated digital markets.

Mullen took over from Richard Glynn on April 1 and a day after submitting an application to the Irish high court to put the company’s troubled Irish division in examinership, he signalled his urgency to implement his strategy as soon as possible.

“I will complete my review of the wider business quickly and I will present some of the principal changes that I intend to make, in June, earlier than planned,” he said.

“Shareholders should expect me to focus on how we will build an effective competitive position, develop scale and resilience over the medium-term.

“I believe strongly in Ladbrokes. We have laid solid operational foundations but there is still a lot to be done.

“The decision to seek examinership in Ireland demonstrates the seriousness of our intent and the speed with which we will execute.”

During the first quarter Ladbrokes closed 15 of their intended 60 betting shops for 2015, leaving an estate of 2,194 shops, which was down from 2,209 12 months ago.