News Item: : LADBROKES AND 888 DEAL SCRAPPED
(Category: LADBROKES)
Posted by joginvik
Monday 11 July 2011 - 13:27:13

Takeover talks between Ladbrokes and 888 have been terminated, it has been revealed. After months of negotiations it appears that the two sides couldn't agree on a price with both parties releasing statements confirming that discussions have ended.

Ladbrokes' chief executive Richard Glynn said he "simply decided it was not in the interests of shareholders".

Ladbrokes also released a trading update following the news, revealing that net revenues (excluding high roller customers) were up 2.3 percent in the first quarter despite a poor Cheltenham Festival that saw revenues down Ј10.7m after a run of winning favourites.

Ladbrokes also announced that Greene King finance director, Ian Bull, will be Its new chief financial officer, starting from July.


This news item is from Sport, Casino, Poker and Games Affiliates portal
( http://partners.tennis-betfair.com/news.php?extend.93 )