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Gambling: Ladbrokes Revenue Going Down

5/15/10 - One of the UK’s biggest land and online bookies, Ladbrokes, has posted a trading update that shows a sharp 6 percent fall in revenue in the first four months of the year, although operating profit has increased by 3 percent over the period.
 
The decline has been attributed to fewer bets – down by 11 percent - in  the land retail shops due to the bad weather in Britain earlier this year. Gross win (total bets minus payouts) from gambling machines rose by 1 percent.
 
The group’s fortunes were undoubtedly helped by an initiative that moved its online division offshore to Gibraltar late in 2009 . With lower tax obligations, the division became more competitive, particularly in sports book and bingo operations, which are credited with a 41 percent year-on-year rise in i-gaming operating profit between January and April 2010 despite a decline of 2 percent in revenues.
 
Online sports book turnover grew 13 percent and net revenue by 4 percent, driven by a 9 percent growth in in-play betting and a 15 percent in pre-match turnover. Bingo turned in 5 percent net revenue growth, with flat net revenue from games.
 
Online poker and casino activities did not perform as well. Casino net revenue fell 6 percent due to lower revenues from high staking players and the free bet promotions run during the period.
Online poker net revenue also fell 10 percent from the prior period, a decline attributed to industry-wide liquidity issues in Europe resulting from the overwhelming competitive presence of major sites that also take US action.
 
A VAT rebate from the UK also helped boost group operating profit. 
 
Richard Glynn, the recently appointed Chief executive, said: “The economic environment remains challenging and the strength of UK consumer confidence post-election is difficult to gauge, but group profitability year-to-date has been broadly in line with expectations. 
 
"In recent times the strength of our brand has diminished. In online and offline areas, we feel the need for Ladbrokes to regain its primacy," he added. "We will be looking at every area of the business. We will be leaving no stone unturned."



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US$30M DUBAI WORLD CUP - Racecourse Media Group and Meydan to showcase world’s richest raceday to more than 150 territories The Dubai World Cup is the first horse race to be broadcast live on airlines and cruise lines

NHL Odds: Forsberg Faces Elliott in Nashville - The last time the Nashville Predators played against the Calgary Flames, Calgary had a 4-1 lead five minutes into the second period. Nashville responded with four back-to-back goals, including a hat trick from centreman Filip Forsberg. Both teams went into overtime with five goals, and Calgary defenseman Mark Giordano (12 goals, 22 assists) scored the winning goal.

Sit & Go 2.0 launched online exclusively at Americas Cardroom - Get ready to cheer like a champion before the first flop is even dealt. The much-anticipated Sit & Go 2.0 is now launched online exclusively at Americas Cardroom and Sit & Go players are reaping the benefits of the next evolution of poker.

NBA Odds: Hawks, Wiz in Southeast Showdown - The Washington Wizards (42-27 SU, 36-32-1 ATS) can pretty much secure the Southeast Division title with a win Wednesday night over the Atlanta Hawks (37-32 SU, 31-38 ATS). Tip-off is at 8 PM ET on ESPN; the Wizards lead Atlanta by five games with less than a month remaining before the playoffs.

Mega Moolah progressive jackpot Hit Again - Microgaming’s Mega Moolah progressive jackpot slot has been hit yet again at just over €6.6 million!

NBA Odds: Clippers Try to Slow Down Bucks in LA - Milwaukee Bucks small forward Giannis Antetokounmpo and Los Angeles Clippers power forward Blake Griffin are two of the most talented and versatile forwards in the NBA. The two lead their teams into battle on Wednesday in Los Angeles.

NCAAB Odds: SMU Hosts Tulsa With AAC Title on the Line - There aren’t too many college basketball teams more profitable than the SMU Mustangs (25-4 SU, 18-5-1 ATS). They host the Tulsa Golden Hurricane (14-14 SU, 15-12 ATS) this Thursday night, tipping off at 8 PM ET on CBSSN.

NHL Odds: Canadiens Welcome Islanders Tonight - The Montreal Canadiens (32-20-8) welcome the New York Islanders (28-21-10) on Thursday (7:30 PM ET on SNE). After getting their first victory under new head coach Claude Julien, the Canadiens will look to build on that momentum against a red-hot Islanders team.

NHL Odds: Reeling Flyers Seek Relief in Pittsburgh - #nhl The Philadelphia Flyers have been a bit off since the holidays. They’ve won just eight games since the Christmas break, and now they’ve got a tough one coming up this Saturday night against the Pittsburgh Penguins.

Dollars to Donuts Slot Launch - Firstly, it's a classically styled, easy playing 3-reel with five pay lines featuring a traditional icon set of bars and sevens.

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