Richard Glynn, chief executive of Ladbrokes, has said that the bookmaker is on track to achieve its full-year goals after it posted growth during the three months through to the end of September.
Group net revenue for the third quarter increased by 13% in comparison with the corresponding period last year.
Ladbrokes noted that its sportsbook division enjoyed the highest percentage of growth, with net revenue up by 58.2% – an increase that was boosted by a 21.6% jump in stakes, which itself was driven by a 113% hike in mobile activity.
Elsewhere, total digital revenue grew by 45.9%, gaming returned to growth with an increase of 1.4% in revenue, while Ladbrokes’ Australian business posted impressive revenue growth of 172%.
Group operating profit also grew to £33 million (€42.7 million/$52.8 million), which is a significant jump of 94% on the £17 million posted in the third quarter of 2013.
In terms of its retail business, Ladbrokes recorded growth across its various operations in Europe.
UK retail net revenue was up by 6% – boosted by favourable football results – while revenue from retail operations in Belgium and Spain was up by 21% and 82.9%, respectively.
“Ladbrokes is on track. The major operational improvements completed in H1 are now delivering growth,” Glynn said.
“Our performance in the World Cup and throughout Q3 demonstrate that we are competing successfully and winning customers.
“In digital, our sports betting offer continues to perform well with net revenue up over 50%, driven by mobile.
“In gaming we are encouraged to see a return to growth. In UK Retail, our focus on football continues to deliver good growth.
“Our gaming machines performed ahead of our expectations while we have, simultaneously, enhanced standards in social responsibility.
“We have achieved much operationally in 2014, with further opportunities to drive revenue in 2015 and beyond.
“Q4 has started in line with our plans and, with usual sporting results, we will deliver full-year results in line with our expectations.”
source : www.igamingbusiness.com
