Ladbrokes Chief Executive Officer, Richard Glynn, might be feeling the heat in these days, as a top shareholder in the gaming company has been out saying that if the results are not satisfying, the CEO will be toast in the company.
The message has been clear - Ladbrokes needs to show some clear performance indicators and prove that the new digital platform which they shifted to, has been worth the money, the trouble and the dip in revenues. If it has not and if it has not started to regain some of its old inactive users, the seat under Glynn will continue to be boiling hot.
Ladbrokes will be releasing an interim report tomorrow on August 12th, there it will be outlined if the change has had the positive effect that the company hoped for. The company already said in February that their operations profit would take a dive in the first two quarters of 2014, due to a prolonged integration period of the new platform.
The shareholder was also noted for saying that machine revenues also needed to go up, otherwise it would still be the same situation, no matter how the online market would be doing. It will be interesting to see which result Ladbrokes comes out with and if Glynn gets to keep his job.