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Ladbrokes' profits lower than expected

Ladbrokes' profits lower than expected

Ladbrokes has undergone many changes in strategy and perhaps this might account for having reached a much lower than expected full year profits from its interactive gaming division. The original forecast was for almost £28 million for the full year but instead the company managed to rake in only between £10 million and £14 million.

Richard Glynn, CEO of Ladbrokes, blames the lower than expected profits on unexpected events which the company had to face over the course of the year. "Our digital earnings have been disappointing, reflecting a lack of competitiveness in sportsbook, lower margins than planned and a greater disruptive impact than expected from the transition necessary to grow digital for the long term," he said.

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