Ladbrokes Coral faces long odds in the bookie race
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Your support makes all the difference.Sometimes long shots win. No one gave Arabian Queen much hope of beating Derby- and Arc-winning super-horse Golden Horn when they lined up for the Juddmonte International at York. But at 50-1 she did, to the bookies’ great delight.
No one’s giving Ladbrokes Coral much of a hope against Paddy Power Betfair when the mergers that create the pair of super-bookies are done. Ladbrokes’ latest update showed why. Earnings plummeted and it had to “adjust” its revenue figures to exclude the impact of the World Cup from last year’s so that it could show some plus signs in the revenue growth column.
The bookie has had a tough time, and while digital is looking better, the going report still reads “heavy”. There was no real news on the merger, because we’re awaiting the view of the CMA on hundreds of shops.
So Ladbrokes Coral faces long odds. As I said, long shots sometimes win. But not often.
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