City File: New bets off

CYRIL STEIN'S hotels and betting shops group, Ladbroke, should report profits of between pounds 100m and pounds 105m on Thursday - an increase of about 5 per cent on last year. With the dividend likely to be held, the yield of 10.5 per cent looks safe.

Ignore speculation that Ladbroke is to buy New York State's huge off-track betting operation. Governor Mario Cuomo would like to sell, but Ladbroke - the only interested party - is keener on a management contract.