eGaming Review January 2014 - Page 53

F E A T U R E 2013 : W H A T W E L E A R N E D WINNERS AND LOSERS The only winners this year were the lawyers. Both the German public and operators missed out through another year of frustrating delays. 08 A YEAR TO FORGET FOR LADBROKES Ladbrokes has had to endure a torrid year punctuated by three profit warnings which diminished the City’s faith in the bookmaker’s potential and heaped pressure on CEO Richard Glynn WHAT HAPPENED? The operator appeared to have turned a corner in April 2013 when it joined forces with Playtech to revamp its digital business, betting on Playtech’s ability to repeat the success it brought William Hill as part of its online joint venture. But although heralded as a significant leap towards resolving its issues at the time, the migration to Playtech’s platforms and marketing technology has been problematic. In September, after the operator’s third profit warning of the year, Glynn admitted Ladbrokes had underestimated the disruption it would cause. Negotiations over a potential early release from its Microgaming contract are ongoing, however Glynn considered any settlement unlikely owing to the software supplier’s rivalry with Playtech. Patrick Coffey, an analyst at Barclays, believes that the m &