Ladbrokes is betting on a new version of its online sportsbook to help improve its fortunes in the Internet gambling sector.
Announcing its results for 2011 on 16 February 2012, Ladbrokes said the new website would be live in the “coming weeks” and will:
• allow single click bet placement
The highlight of the bookmaker’s results was the performance of the machines in its betting shops, with machines gross win increasing by 19% to GB£ 360.9 million. The average number of machines installed in 2011 was 8,050 (2010: 7,953).
Overall net revenue increased fractionally to GB£980.3 million (2010: GB£976.6 million), whilst operating profit fell by 4.3% to GB£ 193.5 million.
The company is placing a lot of faith in the new sportsbook being able to improve the digital division. It will have to produce results from the off. A new mobile platform in the first half of 2012 should also help.
Ladbrokes has been doing a lot of advertising in the second half of 2011 which does seem to be bearing results in terms of sign-ups. But GBGC wonders about the quality of customer all the marketing is attracting. In the online casino yield per customer was down 10% over 2010 “due to an increase in lower yielding actives”.
Betting shop machines have been a strong area for Ladbrokes. If the new Machine Games Duty is not favourable to the industry it could hit this profitable area of the business.