A suitor circling Ladbrokes is nothing new for Chris Bell, its chief executive. Since he took the top job in 2006, when the company had split from Hilton hotels, there have been several potential buyers linked with the bookmaker.

They are thought to include the private equity houses CVC Capital Partners, Blackstone and BC Partners. Yesterday it emerged that Citigroup had bought a 7 per cent stake for Joe Lewis, the British-born, Bahamas-based billionaire.

Mr Bell, a Yorkshireman, has always insisted that he is not interested in pursuing a management buyout such as the one undertaken by his rivals at Coral. However, he is quick to admit that if the right offer came along, he would act in the best interests of shareholders.

There have been persistent doubts as to where future growth lies for Ladbrokes. While Mr Bell is sporadically rumoured to be considering a bid for Rank, the embattled casino and bingo operator, a lacklustre trading update in November and a falling share price has made it an all-the-more appealing prospect for private equity.

For the four months to October 31, Ladbrokes was rescued by a huge jump in profits from high-roller telephone punters.

Mr Bell has also conceded that international growth as been slower than he had hoped because the relaxation of rules in overseas markets was taking longer than expected to materialise.

Having lost out on opportunities in the Far East, he said late last year that the international business would contribute about £20 million to profits in five years. His previous forecast had been for between £20million and £40million in three to five years.

There has also been speculation over how long Mr Bell will remain with tbe business. Last year Brian Wallace, Ladbrokes's finance director, considered defecting to William Hill to fill the vacant chief executive's post.

Mr Bell denied rumours that Mr Wallace's decision to stay had been accompanied by a demand to replace Mr Bell himself. The chief executive gives the impression that he will depart on his own terms.

A self-confessed bad loser, the 50-year-old has been with Labrokes since 1991. He became managing director in 1995 and was appointed to the board on June 1, 2000.

That Mr Bell, who hails from Doncaster, ended up a bookie owes more to chance than a carefully planned career plan. His parents were keen for him to have a profession, but his A-level grades meant that he ended up at Wolverhampton Polytechnic doing business studies.

He spent 12 years at Allied Breweries, which culminated in him becoming marketing director at Victoria Wine. His hobbies include travel, wine, food, flying and reading.

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