Ladbrokes non-executive John Kelly has decided to take a punt, buying nearly £25,000 of shares in the bookmaker.
He took 18,041 shares in the company at 137.9p, his first investment in the firm even though he joined the board more than a year ago, in September 2010.
Kelly was the founder and chief executive of bingo, casino and bookmaking outfit Gala Coral Group. He stepped down as chairman of the company in 2009.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Kelly received his OBE for services to the gambling industry.
His investment in Ladbrokes comes amid a good run for the firm's shares, after a third quarter update.
Revenues were up by 2.5% in the three months to the end of September.
"The economic climate in the UK remains challenging and whilst we expect this to continue we are confident in our strategy and remain in line with the board's expectations for 2011," he said.
"We are making good progress on the delivery of our operational and technology milestones and look forward to sharing more detail on these at the full year."
Top Director Buys
UK Select Trust Ltd. (UKT)
Director name: Mr James M Le Pelley
Amount purchased: 535,102 @ 121.25p
Value: £648,811
Ladbrokes (LAD)
Director name: Mr John Kelly OBE
Amount purchased: 18,041 @ 137.87p
Value: £24,873
Utilico Investments Ltd (DI) (UTL)
Director name: Mr J. Michael Collier
Amount purchased: 14,540 @ 150.50p
Value: £21,883
Top Director Sells
News Corp. 'A' Shares (NCRA)
Director name: Mr Jose Maria Aznar
Amount sold: 21,761 @ $17.20
Value: $374,289
News Corp. 'A' Shares (NCRA)
Director name: Mr Thomas James Perkins
Amount sold: 21,761 @ $17.20
Value: $374,289
News Corp. 'A' Shares (NCRA)
Director name: Mr Kenneth Cowley
Amount sold: 19,233 @ $17.20
Value: $330,808
-
-
Act now: First Direct’s £175 switching bonus ending soon
First Direct has launched a £12,500 prize draw on top of its £175 cash bonus - but they both finish soon, so you’ll need to be quick
-
Credit card providers slash 0% balance transfer deals
Customers face a double whammy of rising interest rates and shorter 0% balance transfer periods. We look at what’s going on in the credit card market and why you’ll need to act fast to get the top 0% balance transfer deal
