Punter Wins Take Toll On Hilton
Last updated: 13/03/2008 16:58
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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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