Ladbrokes Online Performing well
25th February, 2009
Ladbrokes is arguably the largest gambling firm in the UK, operating several hundred high street bookies around the country. Nearly every town or city has either one or multiple Ladbrokes bookie stores which provide and excellent betting service
Like many traditional gaming brands, Ladbrokes has moved online and now runs eight product sites including, bingo, casino, poker, backgammon, financial bets, sports betting, lotto's and finally skill games.
These products make up a strong network of sites which regularly attracts large numbers on a daily basis.
Ladbrokes recently announced their operational profits after tax as, £211.4 million for 2008, down from £292.1 million in the previous year. These disappointing results were partly due to the global economic crisis which struck late last year.
Many large business corporations have struggled, after the credit crunch has forced a cut back in consumer spending.
In spite of this, Ladbrokes's online performance showed healthy growth, with net gaming revenues increasing 20 % from 2007. Sign up numbers and active player numbers also increased.
One of the reasons for these impressive results, was due to an increased number of high roller players. A statement by Ladbrokes explained, “We have always been clear that the frequency of high rollers activity is unpredictable and, although not as active as 2007, high rollers contributed £80.1 million of profit during 2008, a very material source of cashflow.”
Ladbrokes will be looking to continue their impressive performance online, and may well decide to invest more money into this ever growing industry sector.
By Jamie
