Bookie doesn't always win - Ladbrokes reveals £51.4m loss

British bookmaker Ladbrokes has reported a £51.4m loss for the first half of the year weeks after announcing a £2.3bn merger with Coral.

The firm tumbled into the red after taking a £78.9m charge largely due to a write-down in value of shops in UK and Ireland, and the cost of closing down a number of them.