Ladbrokes Set to Play Abroad

As reported by the Sunday Times: "Chris Bell, chief executive of Ladbrokes, the £2.4 billion gaming group, is this week expected to set out an aggressive expansion plan for Asia and Europe when he reports half-year results.

"Bell is keen to take the group into new markets, including Italy and Turkey, where it is already in a consortium to take over the national lottery. Other markets that are being examined include Spain and Germany.

"Ladbrokes' expansion in Asia has also been going at a faster pace than the market had predicted. The number of Chinese betting shops it runs has risen from 150 to more than 250. The gaming group is expected to report record half-year earnings of £150m before interest and tax.

"But the market, particularly in Britain, is becoming more competitive and the growth of online gaming is slowing…"

2006-08-21