There has been a dispute ongoing with Ladbrokes and the HMRC or Her Majesty’s Revenue and Customs.  This dispute has finally ended with a settlement between the tax officials and the online casino.  Ladbrokes is one of the largest land based and internet casinos available in the United Kingdom.  During the settlement it was decided the HMRC would give a refund of 80 million pounds or $123 million.

This refund is supposed to cover losses for the years up to 2007.  Panmure Gordon a broker made an announcement when it was stated Ladbrokes would be receiving a refund.  He stated it feels like the settlement is a positive and it should help strengthen their online and land casinos.

Another announcement was made last week in line with the tax refund settlement.  While it was not released to the news about the actual amount of the refund it was stated that Richard Glynn would be Chief Executive of Ladbrokes now.  This is a bit surprising for many considering Chris Bell was the executive for many years. The announcement of the settlement and switch of the CEO has increased the stock price by 3 percent.  There are more ways to win at online and land casinos than just by their games.

For those who are invested in the stock market they too have reaped the rewards.  Of course, there are experts out there that believe it is still time to sell Ladbrokes since it will take a bit of time to get the company back into the profit rather than loss side.  There is also a lot riding on the performance of the market as a whole.

Ladbrokes actually dropped 28 percent to 191 million pounds this year.  It was hit by the flailing economy which seems to take steps forward and then backward again.  For the moment though there have been more winners in the online casino, which has helped gain interest not only in the stocks but the casinos themselves.

It is possible there will be a positive outcome for Ladbrokes regarding revenue at the end of the year.  Ladbrokes is one casino which moved their headquarters to Gibraltar in lieu of paying the higher UK taxes.  Last year marked a significant increase in taxes for all online casinos operating in the UK.  Ladbrokes has over 2,200 betting shops along with quite a few online casinos for their players.