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Tougher Irish conditions hit Ladbrokes
Thursday, 13 November 2008 09:10Ladbrokes, Britain's biggest bookmaker, has said its profit increased by 10% in the four months to the end of October despite tougher economic conditions.
In a trading statement, it said gross win - the amount it takes in bets minus the amount in pays out in winnings - at its Irish business was up 52% in the period. But this included contributions from acquisitions including Eastwood in Northern Ireland.
When these were stripped out, Irish gross win was down 11%, mainly because of weaker conditions in the Republic.
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The company total over-the-counter gross win across the group was flat, having been significantly hit by unfavourable football and horse racing results in the last two weeks of the period.
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