In its preliminiary results for the year ended December 31, 2010, Ladbrokes has announced a 20 per cent rise in annual profit.
The group has benefited from online demand for in-play wagers and the continued roll-out of new gaming machines at its UK high street retail division. Also reporting a 7 per cent decrease in bets staked in its shops, Ladbrokes said that the high street business was impacted by challenging economic conditions and the loss of a significant number of horseracing fixtures due to the weather.
The number of in-play bet events offered in 2010 reached 23,000, an increase of 27 per cent, with amounts staked from in-play bet events now representing 42 per cent total of the group’s total sportsbook. Ladbrokes also reported that its range of new apps for mobile devices has helped drive a fivefold increase in the proportion of digital customers accessing the mobile service, currently 15 per cent.
Chief executive Richard Glynn commented that the business is going through significant change. Adding: “We have set out our strategic goals and we have a clear set of priorities on which to focus."
