Lad-broke

Terrible numbers again at Ladbrokes - where the once lucrative high-roller business seems to have tumbled over a fence. Presumably this means that the Sultan of Brunei (and family) really have closed their account.

Sindy Column...

Belatedly, click here for Sunday's column on how new Ladbrokes chief Richard Glynn might run (plus the usual Cazenove bulletin).

Ladbrokes staff given warning Bell

The shock departure of Chris Bell from Ladbrokes was hastened by disgruntled investors surprised by the bookie's heavily-discounted £275m rights issue. But did Bell himself see all this coming?

At the group's Christmas party, the well refreshed chief exec told staff that it had been a "crap" year, there would be no bonuses and there would be "some sackings". The man's a prophet!

Lewis rides again

I read that Joe Lewis, the country's ninth richest man, is working on a takeover bid for Alphameric.
That's the listed technology company that also owns a 50% stake in Turf TV, a joint-venture broadcast service with a consortium of 31 racecourses, that beams live racing footage from the top UK courses into bookmakers' shops.
The bookies have always hated Turf TV - which competes with the Ladbrokes- and William Hill-owned rival, SIS - and the new service's creation triggered a number of lengthy legal battles (eventually won by the Turf TV stable).
Still, there are a couple of intriguing points about Lewis's interest not mentioned in today's Telegraph report.
First, Joe Lewis is still thought to be a sizeable Ladbrokes shareholder; and second, the JV deal covering Turf TV contains a change of control clause that allows the racecourses to buy 100% of the broadcasting service if Alphameric gets takenover.

Ladbrokes goes plural

I read that Ladbrokes is suffering as its wealthy punters rein in spending. Is that really punters plural?
Betting industry gossips have always reckoned that high-roller profits at Ladbrokes are mostly derived from a single customer - supposedly the Sultan of Brunei.