Word: steined
(lookup in dictionary)
(lookup stats)
Dates: during 1960-1969
Sort By: most recent first
(reverse)
...raise a cool $1,800,000 in new capital, but future trading is sure to send its 2,466,000 shares of unissued stock soaring well above their total $3,400,000 par value. Few long shots at Epsom ever paid as well. But Ladbroke Chairman Cyril Stein, 39, figures that he and his house have always been odds-on favorites to succeed. "Bookmaking was in my blood from the first," he says. "I was weaned on the difference between...
...made Ladbroke's the leader of Britain's $3billion-a-year legalized bookmaking business. Founded at the turn of the century and long famed as the "bookmaker to the Establishment," the snobbish West End-based firm had all but faded away along with its blueblooded patrons when Stein's uncle bought the entire outfit in 1956 for a paltry $700,000. The son of a prosperous London horse-parlor and turf-news-service operator, Stein himself became Ladbroke's top man in 1958 at age 30. Last year he turned $1,700,000 profit from...
...that, Stein modernized what had once been a credit operation for the titled few. He brought data processing to Ladbroke's Dickensian clerical department, broadened its roster of clients by including many newly rich who formerly "would not have been welcome even if they usually lost." Noting that in credit betting, "the heavy money tends to come down on the top two or three" favorites in a race-which can put a bookmaker on the short end of the odds-he also began buying up cash "betting shops" (120 to date), the type patronized by smaller bettors...
Golf & Astronauts. Though horse racing still accounts for 90% of Ladbroke's take, Stein has eagerly diversified. He now books greyhound racing and football, began posting odds on golf in the early '60s when Arnold Palmer made the pro game popular in England. In 1963, he pioneered the making of book on elections. Current special: 10-to-l odds on an astronaut's landing on the moon next year...
...POWER OVER WOMEN by Gordon M. Williams. 319 pages. Stein...