Big betters boost Ladbrokes profit

Bookmakers Ladbrokes beat analysts' forecasts today as gaming machines and big-betting gamblers with telephone accounts boosted…

Bookmakers Ladbrokes beat analysts' forecasts today as gaming machines and big-betting gamblers with telephone accounts boosted profit.

Ladbrokes said pre-tax profit for the year to end-December rose to £344.2 million ($682.4 million) from £238.1 million a year ago.

Gross win, its profit after paying out winning bets, increased to £1.286 billion from £990.3 million in 2006.

Gross win from highly lucrative gaming machines, known as Fixed Odds Betting Terminals, rose 21 per cent, while profits from its big betting customers jumped to £183.6 million from £17.3 million last financial year.

READ MORE

Excluding the "high rollers", operating profit decreased by 4.4 per cent to £241 million.