Online Casino Transfer: News - New Leadership at Ladbrokes

04/11/2010		Online Casino Style: News New Leadership at Ladbrokes - 2
Home History Games News Dictionary		continued from New Leadership at Ladbrokes - 1 Glynn major hurdles for the future revolve around the online offerings currently offered by Ladbrokes: the company, despite their strong following with gamblers, has fallen in that category, 32 percent in annual pre-tax profits from the year before. The drop was blamed on the worldwide economic recession, an weak excuse given other groups’ success though 2009. The funds to fix it, at least, are there, as Ladbrokes was able to raise £274.6 million in a rights’ issue. With more than 15,000 employed under the name ‘Ladbrokes,’ and more than 2,700 betting shops throughout the UK (Britain, Ireland, Spain, and Belgium), the need to stay on top is more than apparent. That, then, is the world of pressure that Richard Glynn will be walking into this April, as the confirmation of the appointment has been received from the online gambling giant, Ladbrokes. Those who know Glynn speak of his entrepreneurial energy, describing him as a go-getter after whom change follows. The date for the succession of Bell as been confirmed as April 22nd, with the pair working together during a short ‘transitional period.’ "Richard combines entrepreneurial energy with industry experience,” said Peter Erskine, Glynn’s biggest cheerleader in the path to appointment. The chairman continued: "His nine years' experience of the betting and gaming industry, combined with his successful transformation of Sporting Index into a leading international and innovative spread betting business makes him ideally suited to lead the reinvigoration of Ladbrokes." The perks are certainly clear enough, as Glynn will be paid a minimum of £580,000 for his leadership from the online casino group, as well as a gift of 1.177 million shares in the stock. His shares alone are currently estimated to be worth £1.75 million or more. Should Glynn be successful in meeting agreed upon performance targets over the next years, he will additionally receive another 4 million shares in the online gambling company.

04/11/2010

Online Casino Style: News
New Leadership at Ladbrokes - 2

continued from New Leadership at Ladbrokes - 1

Glynn major hurdles for the future revolve around the online offerings currently offered by Ladbrokes: the company, despite their strong following with gamblers, has fallen in that category, 32 percent in annual pre-tax profits from the year before. The drop was blamed on the worldwide economic recession, an weak excuse given other groups’ success though 2009. The funds to fix it, at least, are there, as Ladbrokes was able to raise £274.6 million in a rights’ issue. With more than 15,000 employed under the name ‘Ladbrokes,’ and more than 2,700 betting shops throughout the UK (Britain, Ireland, Spain, and Belgium), the need to stay on top is more than apparent.

That, then, is the world of pressure that Richard Glynn will be walking into this April, as the confirmation of the appointment has been received from the online gambling giant, Ladbrokes. Those who know Glynn speak of his entrepreneurial energy, describing him as a go-getter after whom change follows. The date for the succession of Bell as been confirmed as April 22nd, with the pair working together during a short ‘transitional period.’

"Richard combines entrepreneurial energy with industry experience,” said Peter Erskine, Glynn’s biggest cheerleader in the path to appointment. The chairman continued: "His nine years' experience of the betting and gaming industry, combined with his successful transformation of Sporting Index into a leading international and innovative spread betting business makes him ideally suited to lead the reinvigoration of Ladbrokes."

The perks are certainly clear enough, as Glynn will be paid a minimum of £580,000 for his leadership from the online casino group, as well as a gift of 1.177 million shares in the stock. His shares alone are currently estimated to be worth £1.75 million or more. Should Glynn be successful in meeting agreed upon performance targets over the next years, he will additionally receive another 4 million shares in the online gambling company.