Ladbrokes is hit by online punt
Friday 29 June 2012
Signs that bookmaker Ladbrokes' online gamble is not coming off sent its shares plunging 12 per cent yesterday.
The bookie admitted at an investor day that its digital profits will be worse than expected in the first half of this year. It had already said its heavy advertising spend, including a big TV campaign, and international licensing costs would hit the digital division.
Yesterday its chief executive Richard Glynn said digital profits for the first six months will be half the £31m made by the division last year. The shares fell 21.1p to 152.7p.
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