Secure adnxs

Bad results for Cryptologic Ladbrokes


Ladbrokes released disappointing numbers for the 4 first 4 months of 2009 ended April, reporting a 34 percent overall decline in pre-tax profits. The UK land and online gambling group blamed the "abnormal" gross win margin in March and an increase in free bets offered to new customers, but added that the statistics for May showed a return to "more normal trends".

The results included those for the online gambling division, where there was strong competition and net revenues were down 2 percent, making it unlikely that the division would make its circa GBP 85 million profit target. Lower yields from online poker players took the shine off a 14 percent increase in active players and an overall increase in signups of 10 percent, probably occasioned by the poker operations being assimilated into the Microgaming Poker Network in February 2009.

Across the wider group, punters had the best of it, costing the company dearly in winnings, whilst telephone betting profit fell 54 percent, and profit before interest, tax and non-trading items from high rollers fell to GBP 25 million compared to GBP 40 million last year. Since the beginning of May, Ladbrokes has made a further GBP 17 million profit from high rollers.

Group gross win was in line with expectations up until February, but March proved highly profitable for the gamblers. Since then gross win rose 5 percent.

The company warned in a statement that whilst it remained confident for 2009 full year positive results, weaker economic conditions and softening yields make it unlikely that it will achieve the growth necessary to reach its previously forecast profitability target in 2010”.

Ladbroke chief executive Chris Bell said: "While it is difficult to predict future staking levels in the current economic climate, the general resilience of our business and strong cost control gives us confidence in the outturn for the full year."

General Gambling News

Login to post a comment:


 
 

Click Here to register a new account

What's going on right now!

2mins ago someone from us flag United States read TivoliCasino.com review

Casino Community

Share this page on:
Follow LCB on:
Follow LCB

In the last 24h

Totals

  • New Members
    53
  • Members Online
    545
  • Guests
    2,030
Highest Community Rated Online Casinos
Guts Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (348 Ratings)
Bet365 Games
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (305 Ratings)
Unibet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (275 Ratings)
NextCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (310 Ratings)
SlotJoint Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (40 Ratings)
Casino Adrenaline
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (228 Ratings)
Vera John Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (294 Ratings)
Betsson Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (380 Ratings)
CasinoLuck
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (398 Ratings)
Redbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (284 Ratings)
32 Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (642 Ratings)
Lucky Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (372 Ratings)
BETAT Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (353 Ratings)
Bet365 Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (565 Ratings)
ComeOn Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (419 Ratings)
Betsafe Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (359 Ratings)
Winner Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (421 Ratings)
William Hill Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (203 Ratings)
Club USA Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (485 Ratings)
Mr Green Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (451 Ratings)
Red Stag Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (146 Ratings)
Win A Day Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (580 Ratings)
Betfair Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (378 Ratings)
Ladbrokes Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)
Sportingbet Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (173 Ratings)
GoWild Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (388 Ratings)
Slotland
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (523 Ratings)
Buzzluck Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (326 Ratings)
InterCasino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (225 Ratings)
Vegas Red Casino
star ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar ratingstar rating  (238 Ratings)


Follow LCB on Facebook Follow LCB on Twitter Follow LCB on Pinterest Follow LCB on Google plus