Tag Archives: jim mullen

Ladbrokes CEO Jim Mullen – Current ABP stand-off does not benefit anyone

Ladbrokes CEO Jim Mullen has expressed concern regarding the ongoing tense stand-off between UK Racing and the betting industry concerning the BHA’s ‘authorised betting partner’ (ABP) policy. Mullen states that the current scenario does not benefit any stakeholders, as both industries’ are mutually “intertwined”, hence there should be no need for “backdrop of scores, injustices – or perceived injustices – …

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Scott Longley – Merger Mania – the race is on, but there can only be one winner…

As with comedy, timing is everything in business. While there is a logic to the recent outbreak of consolidation within the gambling industry, for two of the mega-deals currently underway – the Paddy Power Betfair and Ladbrokes Coral mergers – the coincidence of the deals is providing onlookers with some choice compare and contrast examples. ____________________________ Last week was an …

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Ladbrokes gains investor confidence despite earnings downturn

Despite forecasting a 57% drop in Group EBIT earnings for its Q3 2015 performance, Ladbrokes Plc shares recorded an 8.7% gain on yesterday’s FTSE trading (closing price 109.05p per share). Presenting the operators performance guidance, CEO Jim Mullen outlined that Ladbrokes was in the process of implementing an “organic plan to aggressively invest and grow our recreational and multi-channel customer base …

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Tax headwinds & increased marketing spend halve Ladbrokes Q3 earnings

Updating the market this morning, Ladbrokes Plc has issued its Q3 2015 (period 30 September) interim management statement forecasting a 57% drop in period Group EBIT earnings of £14.3 million. Ladbrokes governance stated that its earnings performance had been impacted by higher taxation (POC and gaming machine duties) and increased marketing spend targeting UK football and recreational players. The operators …

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Andrew Bagguley departs as Ladbrokes Digital MD

Industry news source EGR Magazine has broken the news that Ladbrokes Managing Director of Digital Andrew Bagguley has left the operator after only six months in the leadership role. Bagguley the former Ladbrokes Director of Mobile Devices (January 2014 – April 2015), had been promoted to the role vacated by incumbent CEO Jim Mullen, with the aim to continue the …

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Ladbrokes hires Kristof Fahy as new CMO

Continuing its senior management restructure under new CEO Jim Mullen, Ladbrokes has announced the appointment of Kristof Fahy as Chief Marketing Officer (CMO). The former William Hill CMO (2010 – 2015), re-joins the betting industry having led Telegraph Media Group marketing for the past six months. Kristof will lead all brand and marketing initiatives for Ladbrokes retail and digital divisions …

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Jim Mullen – Ladbrokes & Coral are still ‘fierce competitors’

As forecasted by city analysts Ladbrokes Plc posted H1 2015 operating losses of £41 million, making for a somewhat downcast first corporate update by New CEO Jim Mullen. However, the Scotsman feels upbeat about the operator’s future performance having called in a much needed review of its retail business division. Under Mullen’s guidance Ladbrokes’ new executive team implemented a write-down …

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£79 million expense costs see Ladbrokes post H1 profit slump

Reporting on its half year 2015 performance (period ending 30 June), FTSE250 betting operator Ladbrokes Plc posted group operating losses of £41.4 million (after tax). As expected by business analysts Ladbrokes’ retail betting division had been hit by a £51.8 million impairment charge, following a strategic review of its 2169 betting shop portfolio. The write-down of retail assets, would form …

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City issues Red Alert, as Ladbrokes forecasts H1 2015 losses

As Ladbrokes governance plans to announce its Half Year 2015 performance this Tuesday, London business analysts and investors fear the worst for the bookmaker after writing down the value of its retail betting portfolio.  Ladbrokes are set to record an impairment charge of between £75-85 million, which will guarantee that the operator records a pre-tax loss for H1. New CEO …

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