Irish casino news reports poor results from Ladbrokes

Ladbrokes is in the Irish casino news recently after publishing results which showed a 66% reduction in profits for the full year and the online gambling business was blamed for most of the problems. The online casino and online gambling division has been under pressure for some time which is why a deal was signed last year with Playtech, the casino software provider who according to Irish casino news articles was responsible for helping William Hill Online to be successful. Unfortunately according to statements in the Irish casino news from Richard Glynn, the CEO of Ladbrokes, when the online casinos from Ladbrokes started to use Playtech casino software last year it was not as easy as thought to find a settlement with Microgaming who were the outgoing casino software supplier whose contract was to be terminated early which put the project 6 months behind schedule. Despite this news Mr Glynn has been in the Irish casino news as saying that he expects to be in a better place before the World Cup. It is unclear whether the next piece of news will affect Ireland but having opened more than 120 new shops within the past 12 months Ladbrokes is now expected to close 40 to 50 high street betting shops within the next year. If reports in the Irish casino news are to be believed there are a number of shops with insufficient footfall and the absence of the often discussed FOBTs in Ireland could have an influence as it is belied that those machines account for some 50% of profits in some areas. Whilst being famous for offering odds on anything Mr Glynn, who was recruited in 2010 from Sporting Index, would not give odds on whether he might still be around in September. It remains to be seen.