buy buy buy20 Feb 2009 08:42
Yesterday's trading update from bookie Ladbrokes was mixed: the economic malaise clearly does not help, with the group expecting 2009 to be "challenging". However, Ladbrokes also said that the gross win, that is total bets minus payouts, was up 11.1%. The group argues further that, in fact, the gaming sector is resilient in the face of a downturn and says its business is still doing well. hold says the independant
Ladbrokes is a much more diversified business than a few years ago when almost all of its bets involved horses and greyhounds. It is cautiously building an overseas presence in markets including Belgium, Italy, Spain and China and its management team are rightly well regarded. hold agrees the Times.