The possibility that the Roy Hodgson’s 23-man England squad upsetting all football teams in the Euro Cup is causing Ladbrokes Plc boss Jim Mullen a lot of sleepless nights.

Mullen admitted that England’s glory in the Euro 2016 tournament, which will run from June 10 to July 10 in cities across France, would be the biggest single risk to Ladbrokes Plc’s profit this year since it stands to lose £1 million ($1.4 million) for every game the team wins in the opening half of the tournament.

He even considered England’s win as a more pressing concern for June than the on-going merger discussions with rival betting company, Gala Coral Group.

The Ladbrokes CEO hopes that England will not be the last team standing on July 6 or it will mean more losses for the British bookmaker, which already lost £6 million (US$8.7 million) on March’s Cheltenham horse racing festival and £3 million (US$4.37 million) on Leicester City winning the Premier League.