Ladbrokes places its bets on shareholders to reduce debt

08 Oct 2009

UK bookmaker Ladbrokes has resolved to address its debt issues by way of a £275m rights issue that will see it increase its outstanding share capital by a half.

The deal, launched on Thursday, makes Ladbrokes the second sports betting company to turn to its shareholders this year after William Hill raised £350m in April. However, the trading environment for Ladbrokes remains challenging, it said, and revenues over the past three months have been 15% lower than ...

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