Ladbrokes chief exec prepared to up the stakes

IN A BUSINESS where the loss of a single high rolling punter can materially impact profits you have to be comfortable with risk. Ladbroke’s announcement that it is planning a £50m investment in its brand is designed to put the business on a more sustainable footing. Its CEO, Richard Glynn, himself an Oxford rugby blue, knows what it’s like to bet on himself. His decision to reinvest 25% of last year’s profits in technology, customer service and online marketing is aimed at changing Ladbroke’s position as “underinvested and behind the curve,” and close the gap on rivals William Hill. - 18/2/2011