Bout of luck lets Ladbrokes off a 'bloody nose'

THE 10th-round victory of Floyd Mayweather over Conor McGregor saved Ladbrokes Coral from a “bloody nose”, the bookie said on Thursday

The FTSE 250 bookmaker highlighted the big fight as an area where it was given a let-off, but it was less fortunate at the end of the 2016-17 football season when Jack Grealish’s 89th minute goal to deny Brighton the Championship title cost it £1.5 million.

The bookie said it was confident football betting would prove resilient to any squeeze on consumer spending.

On transfer deadline day, the biggest money was wagered on Alexis Sanchez’s potential move from Arsenal, it said.

Chief executive Jim Mullen said falls in High Street stakes were being offset to some extent by a rise in online betting, with digital net revenue up 17%.

Ladbrokes did not comment on reports rival GVC had attempted a £3.6 billion merger.

Group revenues rose 1% to £1.2 billion while operating profits were up 7% to £158.3 million.

Ladbrokes is awaiting the outcome of a Government review of fixed-odds betting terminals, which could lead to a new wave of mergers.