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Ladbrokes Q3-2015 Earnings Report

Friday October 23,2015 : LADBROKES REPORTS 57 PERCENT PLUNGE IN THIRD QUARTER EARNINGS
 
But online operations continue to deliver a positive performance.
 
UK land and online gambling group Ladbrokes plc posted its third quarter results Thursday, reporting a 57 percent decline in earnings before interest and tax to GBP 14.3 million pounds, as the British government tightened regulation and ramped up taxation in the gambling sector.
 
Management acknowledged that EBITDA was less than half the GBP 33 million achieved last year in the same period, but noted this reflected investment in a turnaround plan launched earlier this year.
 
The company reported major marketing expenses in a new push for business, and reported that its digital division third quarter revenue was up 6.4 percent, with the company's multi-channel strategy developing well. Mobile bets were up 69 percent by value, slightly ahead of the first half equivalent.
 
Ladbrokes is in the process of completing a GBP 2.3 billion pound merger with Gala Coral, partly aimed at boosting its presence online.
 
Chief executive Jim Mullen said: "These numbers reflect the first 68 days of activity since we announced our organic plan to aggressively invest and grow our recreational and multi-channel customer base particularly across UK retail, Ladbrokes.com and Ladbrokes Australia.
 
"It is early in our journey, but today's results reflect positive initial progress. The focus now is on building on this start; our people are responding to this challenge and we are committed to taking whatever steps necessary to keep this focus.
 
"With sports betting at our core, we see customers responding well to our products, our value and to our recently launched multi-channel offer," said Mullen.
 
Revenue from the bookmaker’s UK retail business declined 1 percent as the company reported eight more shop closures in the reporting period.

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Gambling News :

PokerStars.CZ has launched in the Czech Republic - PokerStars.CZ has launched in the Czech Republic, becoming the first licensed online casino and poker operator under the Czech Republicís new gaming regulation. This follows on from the approval by the Czech State Supervision of Gambling and Lotteries Department.

Luckia Games in Partnership with NYX Gaming Group - NYX will provide Luckia with its open gaming system, NYX OGS, and open platform system, NYX OPS, to support the growth of its established Spanish operation.

Sunbets to Sponsor Sutton United - Online betting operator Sun Bets has inked a one-off sponsorship deal with English association football club Sutton United for its upcoming televised clash against Arsenal FC in the FA Cup fifth round tie.

Time is Money Slot Launches - Set to a catchy tune, Time is Money offers a free spins bonus where all wins are multiplied by up to x12 by a random multiplier, selected from the time traveling clock.

ArenaCube Signs 3 New Deals - Under their strategic partnership, ArenaCube and Kiron will develop and launch a new version of Arena Challenge in 2017. The new version of the game will carry Kironís virtual content.

First Woman to Win a WPT Playground Championship - Besting a field of 380, in the C$3,500 buy-in event, Zajmovic beat Jean-Francois Bouchard in heads up play, pocketed the C$261,000 first prize and a seat in the season ending WPT Tournament of Champions.

NHL Odds: Oilers-Blackhawks at the United Cente - Fans at the United Center will be treated to a potential Western Conference playoff preview this Saturday when the upstart Edmonton Oilers visit the Chicago Blackhawks. The puck drops at 7 PM ET on WGN.

2017 Partypoker.net WPT Playground main event Results - Although she entered the heads up against Jean-Francois Bouchard with a chip deficit, Zajmovic was able to get herself back in the game with some skillful and disciplined playing, eventually overtaking the leader and finally leveraging her chip advantage into a decisive win.

IGT In Deal With Norsk Tipping - International Game Technology has announced a new contract signing which will see it providing interactive casino and Instant Win game libraries and custom games through a remote game server to Norwegian gambling group Norsk Tipping.

ZYNGA POKER ENJOYS IMPRESSIVE GROWTH IN 2016 - By re-focusing on the mobile environment and poker, social gaming giant generates revenue of $741 million - without offering real money games!

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