The Globe and Mail

Go to the Globe and Mail homepage

Jump to main navigationJump to main content

Neptune Collonges with Jockey Daryl Jacob onboard jumps the Water Jump on the way to winning the Grand National horse race at Aintree Racecourse Liverpool, England, Saturday, April 14, 2012.
Neptune Collonges with Jockey Daryl Jacob onboard jumps the Water Jump on the way to winning the Grand National horse race at Aintree Racecourse Liverpool, England, Saturday, April 14, 2012.
(Jon Super/AP)

Financial Times

Odds rising for bookie Ladbrokes

Lex is a premium daily commentary service from the Financial Times. It helps readers make better investment decisions by highlighting key emerging risks and opportunities. Click here to read more international insights.

Oh, how the bookies must have loved it when Aurora Encore won the Grand National last week at 66/1. Only once in the past 40 years (Mon Mome in 2009 at 100/1) have they had a better day at the National. But the joy has been short-lived for Ladbrokes. The company warned on Monday that profit for 2013 would be at the lower end of expectations. The shares fell 8 per cent.