LADBROKES FEELING THE HEAT ON INTERNET POKER?
10 August 2007
Poker returns disappoint in latest interim report
Online poker operations at Ladbrokes, probably due to an
increasingly competitive European business environment,
disappointed investors when the e-gaming division of the
gambling group released its interim six month numbers to
the end of June this week.
Poker net revenue fell GBP 2.7million to GBP 15.7
million in the face of stiff competition in the UK and
Scandinavian regions as active player numbers fell 15
percent to 422 000 and yield per unique active player
fell 10.6 percent to GBP 144.
Other e-gambling operations fared better, with increased
net revenues over the past six months. Overall gross
rose 8.9 percent to GBP 72.5 million from GBP 67 million
for the same period last year with unique active players
rising 5 percent to 441 000.
Pre-tax profit before non-trading items for the group
rose to GBP 161 million from GBP 155 million in the same
period last year. Gross win rose to GBP 624 million from
GBP 523 million while operating profit rose to GBP 195
million from GBP 151 million, aided by record results
from telephone betting (see previous InfoPowa report).
Ladbrokes also announced that its Italian retail
business was up and running with 12 shops now trading.
Christopher Bell, chief executive, said the online
business continued to perform satisfactorily, and that
the company had experienced good growth in its online
sportsbook, casino and gaming products to counter the
poker performance.
Online sportsbook revenue rose 13.9 percent to GBP 27
million with gross win margin coming in at 7.9 percent.
Casino net revenue grew by 14.4 percent to GBP 22.2
million. Games revenue rose 50 percent to GBP 7.5
million.
Online Casino News courtesy of
InfoPowa
More news here.
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