(Adds Ladbrokes' spokesman declined to comment)
Aug 10 Ladbrokes Plc Chief Executive
Richard Glynn needs to prove that the British bookmaker's recent
strategic moves are bearing fruit when it posts results this
week, a top 10 shareholder said, the Sunday Times reported.
Ladbrokes needs to show some "pretty clear performance
indicators" to prove that its new digital platform worked well
through the World Cup and had helped the company win customers
back, said the shareholder, whom the newspaper did not identify.
A spokesman for Ladbrokes declined to comment. The company
is slated to report its interim results on Aug. 12.
Britain's second-largest bookmaker in February warned that
operating profit would take a hit in the first half of 2014,
because it was taking the company longer than expected to switch
its gaming products to a new online system.
Ladbrokes last year tied up with software developer Playtech
Plc to upgrade its online service as it aimed to make
up ground lost to larger rival William Hill Plc and
capture the growing number of gamblers who bet on sports events
through their computers, tablets or smartphones.
The shareholder was quoted as saying, "We also want to see
an uptick in the performance of machine revenues. Without that,
the chief executive is toast. With that, he's got more time, but
he's still under pressure." (thetim.es/1ontki8)
Bookmakers have been hit by government plans to increase
taxes on high-stakes gambling machines, which account for a
large slice of their traditional betting shop business.
Matters have not been made easy for Ladbrokes by the fact
that, like some other bookmakers, the company had to make big
payouts to gamblers on two weekends when many of the top soccer
(Reporting by Esha Vaish in Bangalore; editing by Jane Baird)