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UK
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26 August 2005
Punter Wins Take Toll On
Hilton
Hilton
Group chief
executive David Michels admitted that trading had been tough
at Ladbrokes, where profits fell 6.3pc. The bookmaker has
suffered from a run of punter-friendly football, and
particularly horse racing results - notably the victories of
favourites Hedgehunter in the Grand National and Motivator
in the Derby. Costs have also been rising.
However, Mr Michels said
he believed Ladbrokes had won back some of its losses to
punters from horse racing and football through continued
growth in revenues from fixed-odds betting terminals.
Ladbrokes has 6,087 in its shops and each makes
£576.
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