Ladbrokes' Online Gambling Gaining Momentum

Published Thursday, October 13, 2011 -

Ladbrokes is a giant in the international wagering world but has fallen behind other operators in the online sector. The man at the helm of Ladbrokes Richard Glynn, has recently been giving the press an earful about where the firm is headed in the near future. An article published in the financial times recently has Mr. Glynn stating the company would be proceeding with it’s merger and acquisition strategy to achieve greater success in the online gambling sector. The CEO is on the hook to make things happen and turn the future into one that is in keeping with today’s online trend. 

The failed acquisition of Sportingbet has investors taking a second look at the situation that Ladbrokes has been in. Attention has been diverted to other aspects of the gambling operator’s business.
Ladbrokes has revealed they will continue with what Mr. Glynn called plan ‘A’ with a large cash infusion. Glynn announced the quarterly financials with a positive note that revenues were up 2.5 per cent compared to the same period in 2010 but operating profit fell 2.7 per cent to £49.7m. The company’s online marketing strategy resulted in the number of active customers increasing by 11 per cent. “We are starting to see clear evidence of momentum,” Mr. Glynn commented.

It was noted that 70 to 75 per cent of Ladbrokes’ online punters were located in the UK. “We have got a lot more to play for in the UK,” Glynn said, “We haven’t done as well in the last few years as we can do.”
For the most part Ladbrokes has been ahead of the online gambling curve and has been active in other part of Europe such as Spain Belgium and Ireland. Glynn was quoted as saying Ladbrokes had an “on-the-ground presence” in those jurisdictions as well as a fully regulated betting product in China.


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