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Ladbrokes Fire Company Exec

31/7/2012
Following a poor first half financial showing in 2012, Ladbrokes have announced that they will firing company executive Richard Ames in a bid to improve the company’s online fortunes.

Ames, who was responsible for the company’s online division, “has ceased to perform his executive duties with immediate effect,” according to a statement issued by Ladbrokes yesterday.

Having only been appointed in the role last July, Ames will now temporarily remain as a director at the company until a further announcement is issued regarding his exit in the coming months.

Ladbrokes, who had allegedly been lining up a move to purchase online gambling businesses 888 Holdings Plc and Sportingbet Plc as recently as last year, have been losing ground to their main competitor William Hill and warned that profits from their digital division could continue to fall.

The company cited the delay of technology upgrades and a declining sportsbook margin as the main reasons for their revenue slump, but William Hill have meanwhile posted an impressive start to 2012 with net revenue rising 30% and operating profit also up 23% for the first half of the year.
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