Tag Archives: Richard Glynn

Z Capital appoints former Ladbrokes CEO Richard Glynn as SIG advisory

Sports Information Group (SIG) the operating company of leading US racing news source Daily Racing Form has confirmed the appointment of former Ladbrokes Plc Chief Executive Richard Glynn to its Board of Directors. Industry veteran Glynn the former leader of Ladbrokes (2010-2015) joins SIG governance, following the firm’s recent sale to international private equity firm Z Capital. Since leaving Ladbrokes, …

Read More »

Ladbrokes shareholders’ vote against executive pay scheme

Ladbrokes leadership has been dealt a blow by shareholders regarding executive pay at its Annual General Meeting held on Thursday, where 42% of votes were cast against the operator’s remuneration report. The report detailed that Ladbrokes CEO Jim Mullen had been paid £567,000 for his first nine month’s leading the operator. Mullen’s predecessor Richard Glynn earned £730,000 in 2014, combined …

Read More »

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 …

Read More »

Shareholders criticise Ladbrokes over Richard Glynn pay-off

Shareholders at under-performing Ladbrokes have criticised the company’s corporate governance with regards to former CEO Richard Glynn executive remuneration and final compensation pay-off. Investor concerns regarding the former CEO’s compensation were put forward to Ladbrokes governance at the company’s annual general meeting held last Thursday. An estimated 40% of shareholders failed to back the remuneration policy for Glynn. The Guardian …

Read More »

Ladbrokes 2014 profits hit by declining retail performance

Ladbrokes Plc disclosed its preliminary results for its 2014 performance, as forecasted by numerous business sources the operator revealed that pre-tax profits were down 13.5% to £98 million (FY 2013 : £113.3 million). 2014 group revenues had increased to £1.15 billion, up 3.8% on 2013 (£1.1 billion) as Ladbrokes saw increased wagering on its football betting markets during Q1 2014 …

Read More »

BlackRock snaps up 4.7% stake in Ladbrokes

Investment management firm BlackRock has snapped up a 4.7% stake in Ladbrokes Plc, ahead of tomorrow’s full 2014 financial presentation. The financial firm took advantage of Ladbrokes’ share price dip at the start of the week to acquire its stake in the company. The news of BlackRock’s investment in Ladbrokes has surprised London business analysts as yesterday investment bank Deutsche …

Read More »

Deutsche Bank – Gloomy forecast for Ladbrokes in 2015

Ahead of its annual results publication on Thursday 26 February, Ladbrokes share price suffered its worst fall in almost a year after investment firm Deutsche Bank warned investors of harder times ahead for the London listed sports betting operator. Deutsche Bank expects the operator to publish a further year of sizeable market-share losses, and for Ladbrokes profitability to be stalled …

Read More »

Ladbrokes to announce further betting shop closures

Ladbrokes Plc is set to announce the closure of up to 60 retail betting shops, bringing its net shop closures to 150 in the past twelve months. The bookmaker stated that the shop closures were inevitable as the bookmaker has been hit by new regulatory measures and additional tax charges relating to retail betting operations. Ladbrokes Plc will announce the …

Read More »

Ladbrokes to roll-out 2000 BGT betting terminals

Ladbrokes has today announced the signing of a new worldwide contract for the provision of over 2,000 additional self service betting terminals across its retail estate. The contract, signed with BGT (Best Gaming Technology) will mean that at least one terminal will be in every Ladbrokes shop in the UK as well as available in Ireland and Belgium. The additional …

Read More »

Ladbrokes becomes title sponsor of Rugby League Challenge Cup

Ladbrokes has announced that it has reached an agreement with the English Rugby Leagues to become the title sponsor of the Challenge Cup competition. Under the agreement, the competition will be known as the Ladbrokes Challenge Cup. Ladbrokes will work closely with RFL players and personalities in various sponsorship activation initiatives and will also launch the tournament’s inaugural Ladbrokes Player …

Read More »