76. Northwest Bookmakers
Published 23/04/2013 | 13:03
Group Chief Executive: Richard Glynn
Pre-tax profit: £1.6m
Northwest Bookmakers is a subsidiary of Ladbrokes Holdings (NI) which is, in turn, a subsidiary of the parent company Ladbroke plc. Following a purchase in 2007, the business has brought together the betting businesses formerly owned by Eastwoods and McCartans.
As a result of the expanded investment, during 2008, Northwest Bookmakers added intangible assets (business licences and goodwill) valued at £124m to its balance sheet. The purchase was financed by registering a credit with the parent company which, at the end on 2010, was owed nearly £128m.
The company, using the Ladbrokes brand, has been expanding its presence in Northern Ireland. The company owns 24% of the shop betting licences issued here. However, the directors do not foresee further consolidation in the current economic environment.
Employment in the company fell fractionally in 2011 to an average of 419 people while turnover increasing by some £30m . Pretax profit, however, fell to £1.6m, a drop of nearly £5m.
35 Donegal Place