LADBROKES reported a slowdown in its winnings after a flurry of key football and racing results went against the bookmaker last month.

The gambling firm, which split from Hilton hotels earlier this year, said total gross win for the 10 months to October 31 increased by eight per cent.

That compared with a rate of 12 per cent earlier this year, causing its shares to fall four per cent yesterday.

One round of Champions League fixtures last month saw favoured teams claim victory in almost all the ties.

While Ladbrokes said some football and racing results went in favour of the punter in October, it pointed out that trading at the start of this month had been in line with expectations.

And despite the setback, Ladbrokes reported a five per cent increase in profits from continuing operations, as it pledged to continue its focus on overseas expansion and online gaming.

It is currently in talks to buy 888 Holdings.

The group added that gross win at its eGaming arm increased by 17 per cent in the four months since June 30, although operating costs rose 10 per cent due to a marketing push for the World Cup and other sporting events earlier in the year.

Chief executive Christopher Bell said: "While a number of football and racing results went against us in October, early trading in November has been in line with expectations.

"Ladbrokes continues to focus upon international expansion and growing its eGaming business, while continuing to prepare itself for future opportunities in UK and Irish shop estates."

During the last few months Ladbrokes has added 14 shops to its Republic of Ireland operation and another 16 shops in Northern Ireland. In August, Ladbrokes unveiled plans to invest é68m in betting shops, internet and telephone gambling in Italy.

It said it had now submitted the tender to run the outlets. Tweet