Ladbrokes’ new chief executive Jim Mullen has highlighted the need to build up the operator’s player base, and recreational players in particular, as a key part of his strategy to revitalise the business after another quarter of disappointing results.

Mullen was blunt about his company’s struggles, telling analysts “the numbers don’t lie,” and while he described operating metrics as encouraging, he said it was clear that management needed to change the way Ladbrokes operated its business.

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