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Ladbrokes warns of reduced digital profits

British online and land-based sportsbetting operator still expects to meet market expectations due to the out-performance of its retail business.

Friday 29th June 2012



Ahead of the release of its financial results for the six months to June 30, British bookmaker Ladbrokes has revealed that it expects to report that profits from its digital operations for the period have declined year-on-year. In a brief statement released yesterday, Harrow-based Ladbrokes stated that this wane was due to the ‘phasing of our investment programme, increased marketing expenditure, planned operational losses associated with new international licences and the withdrawal from certain international markets’. Ladbrokes declared that this decline was 'exacerbated primarily’ by a ‘poor sportsbook margin’ during its second quarter along with ‘delays in the delivery of technology projects’, which led to lower than expected second-quarter revenues. “As a result we now expect digital profits in the first half to be down further than anticipated at around half that delivered in the first half of 2011,” read a statement from Ladbrokes. “Despite this, due to out-performance, particularly in the retail businesses, we expect to meet market expectations for the first half and remain confident that ongoing development of the digital business will enable us to grow digital profits in 2013 and beyond.”




Source: OnlineCasinoNews

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