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

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Ladbrokes shares fall after online revenues warning
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26 September 2013
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The wagering business Ladbrokes has actually cautioned that revenue will fall brief of expectations since of a disappointing efficiency in its online service.
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Profits for its online arm will remain in the variety of ₤ 10-14m this promotion code year, far brief of the ₤ 27.5 m which had been expected, the company stated in a statement.

Shares fell 10% on the news in early trading in London.
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Ladbrokes has currently provided one earnings warning this promotion code year.

President Richard Glynn stated that conditions had been "difficult"

Last month the company reported a steep decline in revenues, as a slowdown in video gaming device revenues dented its figures.

Pre-tax revenues for the yohaig code first 6 months of 2013 were down 49% from the exact same duration in 2015, being up to ₤ 55.1 m,

In the latest trading update, which was advanced from next month, Mr Glynn said: "Our digital profits have been frustrating reflecting an absence of competitiveness in sportsbook, lower margins than planned, and a greater disruptive impact than anticipated from the shift essential to grow digital for the yohaig code long term".

Ladbrokes is Britain's 2nd biggest bookie and has over 2,500 High Street shops. It has actually just recently announced a partnership with online gaming software application service provider Playtech, in a bid to enhance its digital presence.

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

Richard Hunter head of equities at Hargreaves Lansdown stockbrokers said that while the share cost drop was "extreme", the business's share cost hasn't performed well recently. It has increased by just 1% over the past year, while rival bookmaker William Hill has seen its shares rise by 36% in the very same period.
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"this promotion code area is extremely competitive, and formerly high hopes for the betting sector as far as online was worried have actually been dashed recently. There is still uneasiness around digital since of the yohaig code regulative atmosphere in the US."
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In 2006 the US Unlawful Internet Gambling Enforcement Act (UIGEA) successfully banned US citizens from gambling online, many firms to quit the lucrative US market.

Gaming device downturn hits Ladbrokes
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8 August 2013

Ladbrokes PLC
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