Ladbrokes staff with more than a year\’s experience are to receive shares in the company worth £250, after the bookmaker recently posted a 5 per cent growth in profits for the first four months of 2006.
According to the deal, employees who work 20-30 hours per week will also get shares to the value of £200, while those working under 20 hours will get £150.
Chief Executive Christopher Bell said the gift of shares is in recognition of the contribution staff have made and also gives them a stake in the future of the company.
In separate news, the Racing Post said Ladbrokes concluded a private deal to buy Barry Dennis\’ pitch at Royal Ascot.
Dennis, who retains the pitch for the rest of the year, declined to reveal what Ladbrokes have paid for five days’ betting. He said: “It was a satisfactory price, so I’m happy with the deal, and so are Ladbrokes. Now I won’t have to worry about all those women who turn up at the royal meeting in their fancy outfits and want to have £2.50 each-way with me.”
Ladbrokes’s Trading Director Mike O’Kane said his company would be “delighted to do business with the ladies with hats.”
Ladbrokes’ rails position at Royal Ascot will be operated for the first time by Nigel Spencer, who joined the company from Sunderlands.
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