Jim Mullen says that Ladbrokes and Coral are still great competitors

For the first time in many years, Ladbrokes Plc has posted a serious loss. Analysts from the city have announced that the £41 million loss by the company is one of the greatest losses ever since the company was initiated. This comes as a big blow for its CEO Jim Mullen who is shocked by the drastic downfall of his company.

Nonetheless, Mullen a Scottish national feels that his company just made a slight slip and sooner than later it will be back to its best. And to do this, he claimed he would call for a meeting for all stakeholders and would review the ins and outs of the H1 of 2015. This would be the key turning point for the operator for the sake of a better future.

Mullen came up with a special approach which would foresee the company reverts to its profit making ways. First he would summon all stakeholders and under his management, the fresh Executive team of workers would involve themselves in jotting down all retailed assets of the company. This as he claimed would be focused on attainment of the set £51 million in charges. After a strong consultation, Mullen has a positive believe about the idea and with no time, it is believe to be the transformative aspect for the Ladbroke.

Mullen claimed that for a brighter future of the firm, the aspect of upping their game in terms of proper coordination of all operations accordingly would call for. Ladbroke and another betting operator and a stiff rival in the market Gala Coral are on the brink of merging together in a deal worth £2.3 billion. However, this amalgamation will have to wait until the Competition and Markets Authority (CMA) approves the deal.

Mullen told the media that the company has a ready and up to task team that would initiate a framework of what is to be done. He continued to say that the deal between them and Gala Coral is on hold as they are waiting for the CMA’s endorsement.

However, it will be only after CMA approves the deal that Ladbroke would actually view Gala Coral as their rival competitor in the market and would be eager to knock Gal Coral down in the products they fight for.

This article is published in: Betting companies
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