UK betting firm Ladbrokes has posted its first quarter 2016 financial results, noting a 38.4% increase in online revenues.
Corporate highlights for the quarter ending March 31st, 2016 were:
- UK Retail: estate wide SSBTs and focused call-to-action offers delivered football stakes +9.0% and gross win +87.6 percent;
- Multi-channel underpinned by colleague reward programme delivered a further 43,000 active players in Q1;
- 73 shops refurbished under first phase of targeted UK Retail capital expenditure programme
- Ladbrokes online sportsbook delivered a ninth consecutive quarter of y-o-y staking growth, and a 43.8% increase in active players helped deliver a sixth consecutive quarter of net revenue growth;
- Sustained marketing and sponsorship activity in Australia delivered more players in both the active and recreational player bases;
Financial highlights for the period were:
- Digital operation revenue up 38.4% including casino games and sportsbetting
- Sportsbetting stakes were up 35.2%
- Sportsbetting margins up 7.9%
- Active sportsbetting punters up 27.8%
- Mobile bets up 57.6%, making up 77.1% of sportsbetting bets
- Casino gaming up 27.3%, with active players up 43.8%
- Australian operations saw revenues up 38.4%, an 86.9% increase in active players, and stakes were up 51.5%
Commenting on the results Ladbrokes CEO Jim Mullen said, "Results throughout the first few weeks were largely in our favour and our customer metrics have continued to be strong."
"Our focus remains on best in class customer service, superior quality of product and maximising the multi-channel potential of our business," he said, expressing pleasure at the positive reaction to the group's increased marketing and its multi-channel proposition. We have enjoyed record weeks across key metrics including actives and staking in digital, SSBTs and multi-channel sign ups in retail."