Online Casino Transfer: News - Ladbrokes Down for First Quarter

05/23/2010		Online Casino Style: News Ladbrokes Down for First Quarter
Home History Games News Dictionary		Though many online gambling companies suffered the worst of the economic downturns in the last two years, to report a rise and improvement over quarter sales at the end of 2009, one of the leaders in internet casino brands actually had the unfortunate responsibility of reporting their numbers were down for the first time in four months of the members. Ladbrokes, one of the biggest names not only in internet gambling, but land-based bookie shops as well throughout the UK, posted their most recent trading update this week, showing a 6 percent drop in revenue for the start of the 2010 year. It wasn’t all bad news, however, as Ladbrokes also clarified that their operating profit jumped 3 percent over the same period, and the management team was quick to point out that it could have been much worse had it not been for their online gambling division. One of the primary contributing factors was the fact that bets had taken a drastic downturn during the first 4 months of the year, dropping by 11 percent in the land-based shops because of very bad weather throughout Britain. Luckily the games were in Ladbrokes’ favor, with gross win (total bets minus payouts) rising by 1 percent. Good news included in the Ladbrokes update included the successful move of the online gambling division to now be based out of Gibraltar. The change in hub has resulted in lower taxes, making the internet casinos linked to Ladbrokes significantly more competitive. Bingo and online sports betting especially made progress, growing 41 percent despite a 2 percent drop in revenues. The two categories took the lead, with the online sports book platforms growing 13 percent, and seeing an increase of 4 percent in net revenue. Bingo saw a growth of 5 percent for net revenue. Their traditional internet casino and poker counterparts didn’t fare nearly as strongly, with the casino side down 6 percent, attributed to lower participation levels from high staking players. The free bet promotions hosted by Ladbrokes did their job in attracting new business, but the fresh players took advantage only of the free bets, and failed to continue wagering their own money. “The economic environment remains challenging and the strength of UK consumer confidence post-election is difficult to gauge, but group profitability year-to-date has been broadly in line with expectations,” said Richard Glynn, the CEO.

05/23/2010

Online Casino Style: News
Ladbrokes Down for First Quarter

Though many online gambling companies suffered the worst of the economic downturns in the last two years, to report a rise and improvement over quarter sales at the end of 2009, one of the leaders in internet casino brands actually had the unfortunate responsibility of reporting their numbers were down for the first time in four months of the members. Ladbrokes, one of the biggest names not only in internet gambling, but land-based bookie shops as well throughout the UK, posted their most recent trading update this week, showing a 6 percent drop in revenue for the start of the 2010 year.

It wasn’t all bad news, however, as Ladbrokes also clarified that their operating profit jumped 3 percent over the same period, and the management team was quick to point out that it could have been much worse had it not been for their online gambling division. One of the primary contributing factors was the fact that bets had taken a drastic downturn during the first 4 months of the year, dropping by 11 percent in the land-based shops because of very bad weather throughout Britain. Luckily the games were in Ladbrokes’ favor, with gross win (total bets minus payouts) rising by 1 percent.

Good news included in the Ladbrokes update included the successful move of the online gambling division to now be based out of Gibraltar. The change in hub has resulted in lower taxes, making the internet casinos linked to Ladbrokes significantly more competitive. Bingo and online sports betting especially made progress, growing 41 percent despite a 2 percent drop in revenues. The two categories took the lead, with the online sports book platforms growing 13 percent, and seeing an increase of 4 percent in net revenue. Bingo saw a growth of 5 percent for net revenue.

Their traditional internet casino and poker counterparts didn’t fare nearly as strongly, with the casino side down 6 percent, attributed to lower participation levels from high staking players. The free bet promotions hosted by Ladbrokes did their job in attracting new business, but the fresh players took advantage only of the free bets, and failed to continue wagering their own money. “The economic environment remains challenging and the strength of UK consumer confidence post-election is difficult to gauge, but group profitability year-to-date has been broadly in line with expectations,” said Richard Glynn, the CEO.