Opinion: It's been a troubled year for the company that ended speedway in Wolves
Sports betting giant Entain's bad run of form since destroying speedway in Wolverhampton continued this week with the publication of its latest financial results, writes Adam Smith.
Exactly a year ago the owners of Ladbrokes broke the hearts of speedway fans from across the region by evicting Wolves from Monmore Green Stadium.
The glorious sounds, smells and sights of speedway had been part of Monmore Green's history for over a century. Fans came from far and wide, with a following in Shropshire and Staffordshire as well as in the heartland Black Country.
But Entain just wanted the Ladbrokes Stadium for dogs, a move that has stung thousands who loved their speedway and cherished its rich tradition in our region.
It hasn't been a smooth ride for Entain since that decision was made.
No sooner than Wolves fans had packed away their tear stained tissues and removed treasured memory, cup and pictures from the landlord did Entain begin feeling the pinch.
Before the year was out investment bank Goldman Sachs downgraded Entain to "sell from buy" which was down to "concerns over business growth, particularly within its online division". And Goldman Sachs did not stop there - it is not known whether any of their team were speedway fans, but they also cut earnings per share estimates for 2024 and 2025, claiming they would be 30 per cent lower than previously stated.
