Ladbrokes Closing 50 Betting Shops

The huge British bookmaker Ladbrokes have just reported that their profits have experienced a large decrease of 66%, with a annual result of £67 million for 2013. The betting giant has been tackled by tax changes on gaming machines as well as higher costs on showing horse racing.

CEO of Ladbrokes, Richard Glynn, made the following comment:

“While our financial results for 2013 were disappointing, we made real operational progress which has continued into this year.  We remain confident about the direction of the business and the momentum we are creating.

As we have made clear, H1 is about delivery and H2 is about growth.  Our immediate focus is on the completion of our remaining platform, product and capability upgrades, notably single wallet and CRM, which will begin to deliver tangible benefits from the World Cup onwards.”

Ladbrokes has seen a large growth in revenues through their mobile platform as is hoping to increase the number of customers betting directly from their mobile. High street betting is still a major income for Ladbrokes, but does cause some problems on a regular basis. Ladbrokes will be closing 40-50 betting shops due to the profits report and due to regulatory issues with high street betting.

Daniel Allermand

Daniel Allermand is a freelance writer, with more than 4 years of experience in the industry as an operator, affiliate and poker player. Daniel has decided it was time to try and bring more coverage about the industry to the general public by writing articles about everything from poker to casino.  

Recent Posts

Sportsbet.io and Southampton extend their partnership

Southampton Football Club have announced the extension of its partnership with the Coingaming Group as Main Club Partner. With the…

5 days ago

Wyoming passes House Bill 133, allowing online sports betting and becomes first state to allow cryptocurrency to fund accounts

This week, Wyoming passed a House Bill that would legalize online sports betting in the state and it joined a…

1 week ago

Media powerhouse David Levy appointed Chairman at Genius Sports

Genius Sports has appointed sports industry pioneer David Levy as its new Chairman. In his new role, Levy will lead…

4 weeks ago

Unibet offering Gamban self exclusion tool to its US players

In a press release this morning, Kindred Group announced that it has partnered with Gamban to offer Unibet’s US customers…

1 month ago

UK announces reopening of betting shops; BGC lobby to delay Grand National

With the UK government announcing their roadmap towards ending its restrictions by end of June gradual reopening of businesses. English betting…

2 months ago

Betway to enter US Market

Digital Gaming Corporation (DGC) and Betway have partnered up in an order to set their first steps together in the…

2 months ago