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Ladbrokes Coral Performance Beats Expectations

Internet betting giant Ladbrokes Coral has posted their third quarter financial results, noting that revenue went up 3% from last year.

Key financial indicators for the third quarter ending October 29th, 2017 were:

  • Total net revenue up 3%
  • Digital revenue up 12% from last year
  • Sportsbetting wagers up 17%, with sportsbook net revenue up 18%
  • European retail revenues up 17%, while UK retail was down 1%
  • Year to date revenues up 2% from last year
  • Year to date digital net revenue up 15%

Speaking about the deal Ladbrokes Coral CEO Jim Mullen said, "The four-month period to October 29 represents another period of positive trading performance for the group as well as solid delivery on the key operational and financial targets for the year including the swift integration of people, operations and platforms."

"Our digital performance is strong and the Ladbrokes brand in Australia and the Eurobet brand in Italy continue to post very strong revenue growth."

"In the UK, the Coral and Gala brands also posted very pleasing growth, and we continue to transition our approach to customer acquisition and retention in Ladbrokes.com to focus on improved profit conversion."

"In UK retail, performance improved in line with our expectations primarily driven by the return of all horse-racing content to our shops."

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bgsharpe
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15 November 2017 - 9:17am
#1

Obviously the growth in the sportsbook revenues is their main achievement for the quarter but in other sectors they ding fine as well.

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