Ladbrokes Plans 200 More Outlets

LONDON – As reported by Bloomberg: "Hilton Group, owner of the UK's Ladbrokes betting-shop chain, may open as many as 200 outlets to maintain its lead over William Hill, chief executive David Michels said.

"Ladbrokes' rival bookmaker William Hill is in talks to buy 600 betting shops from Stanley Leisure for more than $500 million to create a chain with about 2,200.

"Ladbrokes, which owns 1,900 outlets in the UK, may match that number by the end of next year, Mr Michels told Bloomberg. 'I'm not unhappy about being No. 2 by numbers, but I would be unhappy about being No. 2 by profits,' Mr Michels said from Hilton's headquarters in Watford, England.

"…Ladbrokes, which is Hilton's fastest-growing business, has helped cushion earnings as the company's lodging unit, which runs all the Hilton hotels outside the US, lost customers after the 2001 terrorist attacks…"