Profits Fall at Ladbrokes

The last six months have not been good for Ladbrokes.  They have announced a 30 percent decline in profits for the period.  Like other bookmakers, they have had a decline in phone wagers and higher costs.

The company, which is based in London, has more than 2300 betting shops in the United Kingdom and Ireland.  They have reported that their net income fell by 16 percent with the profits on its U.K. operations falling by $191.35 million. 

The higher costs faced by Ladbrokes are due to the new gaming laws that allowed bookmakers to be open in the evening.  Other bookmakers face the same higher costs due to their evening hours.  There has also been less gambling activity due to the slowdown in the economy and Ladbrokes has lost customers to sites located in jurisdictions with looser gaming laws or with more favorable tax laws.

Ladbrokes offers its customers the full range of gambling activities: sports betting, poker, casino, bingo, backgammon, games and financial bets.  The site is available in a variety of languages making it user friendly for players in many different countries. Interest parties can check the website for information about the games and promotions available.

 

Posted: August 12, 2008

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