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Ladbrokes Reports Increase in Net Revenues


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One of the UK’s largest land and online betting and gaming firms, Ladbrokes, has
published its preliminary 2011 financial results, showing that its year-on-year
net revenues increased by 0.4 per cent to £980.3 million.

Ladbrokes’ financial results for 2011 revealed that the firm’s profits
year-on-year – before net financial expenses and taxes were taken into account –
were down 6.1 per cent, while its debt was down by £38.1 million.

With regards to Ladbrokes’ digital (online) operations, its 2011 financials
showed a 3.5 per cent drop in net revenues year-on-year, although the gaming
giant attributed this to ‘digital customer acquisition and conversion’ as well
as ‘margin mask underlying improvement’ in its online sportsbook and poker
facilities in the fourth quarter.

Ladbrokes Active Customers
Rose by 24%

The good news, however, is that Ladbrokes’ 2011 financials revealed that new
customer sign-ups in 2011 at Ladbrokes.com rose year-on-year by 77 per cent,
while its active customer numbers rose by 24 per cent, and the amount wagered
rose by 22 per cent.

Said Ladbrokes Chief Executive Officer, Richard Glynn, ‘We are continuing to
make progress with our plan to reinvigorate Ladbrokes. The UK retail business
has performed strongly this year. Over-the-counter has continued to prove
resilient in a weak economy with stakes marginally up on 2010.

‘The contribution from machines has been excellent and we have grown
profit-per-shop for a second straight year despite a comparatively poor gross
win margin in the second half of 2011 and continued cost pressures. In 2012, we
expect to build on this with further growth in machines, robust cost control, a
renewed focus on local market competitiveness and the evolution of the retail
customer experience,’ he said.

The Harrow-based firm has also made moves to assert itself in the lucrative US
gambling market in anticipation of a time when online gambling is legalised and
regulated, by agreeing to acquire the majority stake in leading Las Vegas-based
sportsbook and in-game betting software vendor, Stadium Technology Group.

Ladbrokes Investing in Brand and Digital Marketing

‘We’ve begun investing consistently in brand and digital marketing and we will
continue this investment process in 2012 having begun to see tangible benefits
in 2011,’ continued Glynn. ‘We are pleased to have seen acceleration in the
growth of customer numbers.

‘Sportsbook and casino sign-ups and actives have
increased strongly in the second half following the start of increased marketing
investment in August. We’re continuing to invest in technology to improve our
trading capabilities, expand our range of products and improve our delivery to
the customer,’ he said.

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