After a poor first-quarter execution in horse racing and online gaming, Ladbrokes, Britain’s second largest bookmaker, announced its annual operating profits are expected to drop.
The reason for this, is that Ladbrokes has experienced an unusual increase in winners at the beginning of the year, forcing Ladbrokes to explain its shareholder why this happened.
Richard Glynn, chief executive of Ladbrokes, pointed that the economic conditions on the British high street have been very challenging and ambitious. He also added that Racing results take a big responsability for the company’s fortuneless figures.