Andrew Vouris, head of Ladbrokes-owner Entain’s local business, says a $40 million investment in thoroughbred horses and gambling lounges inside pubs did not work, and the bookmaker is shifting its focus to growing online market share and expanding into New Zealand’s online casino industry.
Vouris, who replaced longstanding Entain chief executive Dean Shannon in August, played down speculation the London-listed bookmaker was planning to sell its Australian operation, and argued any offer would need to be at a “significant premium” on future earnings.
