Most Recent Report Indicates Low Returns For Poker

This week Ladbrokes published an interim financial report on its business returns for its poker operation. The results, which are current up to the end of June this year, showed failing results that were disappointing to shareholders. The company is said to blame this dip on an increasingly competitive marketing environment within the European community. This report that was released by the e-gaming division of the gambling group, proved overall to be less than what had been expected.

There was reported to be strong competition from the UK market as well as that of Scandinavia causing the company’s poker net revenues to fall by a factor of GBP 2.7million to GBP 15.7 million. At the same time, the number of active players fell by 15 percent to 422,000.  The reported per active player yield was a reduction of 10.6 percent to GBP 144 process unique player.

At the same time however, their company’s e-gambling operations showed better results. In this division there was a reported increase in net revenues during the previous six months. In this division there was a reported increase overall of 8.9 percent to GBP 72.5 million. This was from the previous level of GBP 67 million for the same period the previous year. At the same time the recorded number of unique active players rose 5 percent to 441,000.

Before accounting for non-trading items, the pre-tax profit for the group rose to GBP 161 million. This was from the previous level of GBP 155 million for the same six month period of the previous year. The reported gross winnings increased to GBP 624 million from the prior level of GBP 523 million. During this same time the operating profits rose to GBP 195 million from their previous level of GBP 151 million. This is said to have been due to a significant level to outstanding telephone betting results.

As a part of the recent report, Ladbrokes has announced an improvement in operations for its Italian retail business, which was said to be up and running with a total of 12 shops now presently trading.

Chief executive and CEO, Christopher Bell, is reported as saying that the company’s online business has continued to operate satisfactorily. He notes that Ladbrokes has shown substantial growth with respect to its online sportsbook, as well as their casino and gaming products. This has operated as a balance to the lowered poker performance.

With regard to results for online sportsbook revenue, there has been an increase of 13.9 percent to GBP 27 million. The gross win margin reached a level of 7.9 percent. At the same time the reported casino net revenue grew by the amount of 14.4 percent to GBP 22.2 million. The company has reported an increase in its games revenue of 50 percent to GBP 7.5 million.

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