Thursday, Feb. 22, 2007

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Ladbrokes posts profits, ogles supercasino

By Christopher Hunt

Gargantuan U.K. gaming company Ladbrokes Plc. posted a healthy £246.5 million before tax profit today and made it known it wasn't going to rest on its plush laurels; gaming firm 888 Holdings Plc. is still in its sights, and it wouldn't mind getting its hands on the operating license for the U.K.'s first supercasino either.

The company's reported profit before tax and non-trading items jumped about £15 million from the £232.1 million of a year ago, with earnings per share rising to 22p.

But that's apparently just a drop in the hat compared to its future plans, with Ladbrokes saying it is still in talks to take over 888.com and confirming its interest in operating several of the large and small casinos planned around the U.K.

The big prize its eyes have settled on, however, may be running the U.K.'s first supercasino, awarded to Manchester last month.

Also on the agenda for the next three-five years: pursuing even more betting licenses in Italy and Spain, and using the two burgeoning markets to drive profits even higher.

Related Articles:

Ladbrokes and 888 Working on Takeover Plan
Ladbrokes Confirms Talks to Buy 888 Holdings

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