Football Betting boosts Ladbrokes profits
Profits at bookmaker Ladbrokes, excluding the high-roller market, have risen 34 per cent for the first quarter of 2008 after one of the tensest Premiership seasons for years.
That may be a bit over-dramatic but the fact that the season went right down to the wire ensured that fans were kept interested until the last game of the season. A strong performance by English teams in the Champions League - in which Chelsea, Liverpool and Manchester United all reached the semi-final stages – also helped the results.
Ladbrokes also reported a favourable increase in profits of 26 per cent from their Fixed Odds Betting Terminals, which include games such as roulette.
Overall, retail gross win was up by 11 per cent, with an over-the-counter gross win increase of four per cent.
However, the highly-profitable but equally volatile high-roller market, which contributed massively to Ladbrokes’ full year profits last year, has ebbed away to “de minimis” levels.
The results are nonetheless encouraging but Ladbrokes are still “mindful of general economic conditions”.
Editor, Jackpot.co.uk - 2008-05-19 11:36:39