ladbrokes-shares-fall-after-online-profits-warning

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Ladbrokes shares fall after online revenues alerting

26 September 2013

The betting company Ladbrokes has alerted that revenue will disappoint expectations because of a frustrating efficiency in its online company.

Profits for its online arm will be in the yohaig code series of ₤ 10-14m this promotion code year, far except the ₤ 27.5 m which had actually been expected, the business said in a declaration.

Shares fell 10% on the news in early trading in London.

Ladbrokes has already provided one earnings warning this promotion code year.

President Richard Glynn said that conditions had been "difficult"

Last month the business reported a high decline in profits, as a downturn in gaming maker incomes dented its figures.
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Pre-tax revenues for the first six months of 2013 were down 49% from the exact same duration in 2015, being up to ₤ 55.1 m,
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In the most current trading update, which was advanced from next month, Mr Glynn stated: "Our digital revenues have been disappointing reflecting an absence of competitiveness in sportsbook, lower margins than planned, and a greater disruptive impact than anticipated from the transition required to grow digital for the long term".
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Ladbrokes is Britain's 2nd largest bookie and has more than 2,500 High Street stores. It has recently announced a cooperation with online video gaming software application supplier Playtech, in a bid to boost its digital existence.

Elsewhere the company reported that trading in betting stores had improved, with football bets and nonprescription stakes picking up.

Richard Hunter head of equities at Hargreaves Lansdown stockbrokers stated that while the yohaig code share rate drop was "severe", the business's share rate hasn't carried out well just recently. It has increased by only 1% over the past year, while competing bookie William Hill has actually seen its shares increase by 36% in the yohaig code same duration.
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"this promotion code area is extremely competitive, and previously high expect the betting sector as far as online was concerned have been rushed in the last few years. There is still uneasiness around digital due to the fact that of the yohaig code regulatory atmosphere in the US."
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In 2006 the US Unlawful Internet Gambling Enforcement Act (UIGEA) effectively prohibited US citizens from online, requiring numerous companies to give up the lucrative US market.

Gaming device depression strikes Ladbrokes
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8 August 2013

Ladbrokes PLC