According to Ladbrokes’s financial results for 2011, the firm’s revenue grew last year compared to 2010. The net revenue of the firm increased to £980.3 million year on year, which reflected a 0.4% rise. The debt of the company too reduced sharply. Compared to last year, this year, debt reduced by 6.1%.
The most positive aspect about Ladbroke’s 2011 financial results is that there has been a significant increase in the number of sign ups with the online sports betting business. 77% year on year online sportsbook real money business growth was reported by the company. The number of active players also increased by 24%.
Richard Glynn Comments on Ladbroke’s Revenue Growth
Ladbroke’s chief executive officer, Richard Glynn commented on the positive growth reports of the firm. He stated that Ladbrokes will make further progress this year. Retail business in the UK had been strong in 2011. The sector recorded strong growth despite the economy being highly unstable. According to Glynn, the contribution made by gaming firms towards the UK economy is big.
2012 Growth Plans of Ladbrokes
Richard Glynn mentioned that the 2012 financial reports of Ladbrokes will be better than that for 2011. Rigorous cost control mechanisms will be used by the firm to increase profits. Ladbrokes will focus on competitiveness in the local market.
The CEO is extremely glad with the increase in Ladbrokes’ customer base. The number of sign-ups in Ladbroke’s casino and sportsbook rose sharply in the later months of 2011. The firm took significant marketing initiatives in August 2011. Following the campaigns, Ladbrokes was joined by quite a few new members. The firm is taking initiatives to improve its offerings and investing in technology as well to attract sports bettors.
According to Glynn, the mobile gambling business of the company has been growing steadily over the past few years. Ladbrokes is planning to expand its product range for mobile gambling in the next few months.
Ladbrokes’ Investment Plans
Ladbrokes’ CEO confirmed that the firm is planning big investments in marketing. The key reason behind this is the positive outcome of marketing initiatives taken last year. Ladbrokes is expected to invest in digital and brand marketing this year. Glynn also mentioned that Ladbrokes has always remained cautious about the outlook of the economy.
