Bell is keen to take the group into new markets, including Italy and Turkey, where it is already in a consortium to take over the national lottery. Other markets that are being examined include Spain and Germany.
Ladbrokes’ expansion in Asia has also been going at a faster pace than the market had predicted. The number of Chinese betting shops it runs has risen from 150 to more than 250. The gaming group is expected to report record half-year earnings of £150m before interest and tax.
But the market, particularly in Britain, is becoming more competitive and the growth of online gaming is slowing.
Analysts say the expansion programme is designed to pitch Ladbrokes as a growth company and encourage investors to support its independence rather than an opportunistic private-equity takeover.
Ladbrokes has been a stand-alone company since February when its sister business, Hilton International, the hotel chain, was sold to its American namesake for £3.3 billion.
Advertisement
At the time of the split there was much speculation that the bookmaker would be on the receiving end of a takeover bid itself, with the private-equity firm CVC Capital Partners seen as the most likely to make an offer. Other firms said to be interested were Blackstone and BC Partners.
More recently, Bell and his board have been working hard to ensure the business has an independent future.
Indeed, Ladbrokes has been named as a potential acquirer of businesses, having been linked with the likes of Rank, 888 Holdings and London Clubs International as it continues to try to challenge its main rivals William Hill and Coral, part of the Gala gaming empire.
While it seeks further avenues for growth, however, it appears to have closed the door on a move into America after the arrest last month of David Carruthers, the former chief executive of the online gambling company Betonsports. He was held on racketeering charges but released last week.
Betonsports had been soliciting and accepting bets from American citizens, despite sports betting on the internet being illegal there.
Advertisement
The arrest of Carruthers sent shock waves through the industry. Ladbrokes, which had been contemplating the possibility of making its online poker and casino games available to American customers, is likely to look elsewhere for further growth.