Ladbrokes stocks slide 9% after digital profit warning

British bookmaker Ladbrokes saw shares slump by more than 9 percent after revealing that profits from its digital division would fall more than expected in the first half, due to a delay in technology upgrades and a poor sportsbook margin. The betting firm said it now expected digital profits in the first half to be down further than expected, at around half that delivered in the first half of last year.

"As stated previously, we anticipated that the phasing of our investment programme, increased marketing expenditure, planned operational losses associated with new international licences and the withdrawal from certain international markets would result in a decline in digital profits year over year," the group said.