Ladbrokes to link executive pay to responsible gaming measures
LADBROKES is planning to link executive pay with responsible gambling criteria in response to government pressure over fixed-odds betting terminals, the e-gaming giant will announce today.
According to Sky News, chief executive Richard Glynn wrote to gambling minister Helen Grant and certain industry stakeholders last Friday to inform them that Ladbrokes will start linking executive pay to responsible gambling performance from 2015 at the latest.
The letter also reportedly said that Ladbrokes plans to display the Association of British Bookmakers’ Code of Player Protection in its shop windows from this week.
A spokesperson from the FTSE 250-listed bookmaker confirmed to CityAM that an announcement will be made on the matter tomorrow, although he refused to give further details of how the changes would be implemented.
The government is currently reviewing the regulation of fixed-odds gambling machines, which are very lucrative for bookmakers, to prevent people from losing vast sums of money quickly.