Ladbrokes Poker Revenue Plunges 21 PercentThe UK’s Largest Bookmaker Sees Continued Decline In Poker Business |
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Ladbrokes Plc today announced its preliminary financial results for 2010 and for poker the reading was grim. Net revenue for poker fell 20.7 percent to £18.8 million from £23.7 million in 2009.
The number of active poker customers also plummeted by 27.7 percent compared to 2009. Meanwhile customer yield growth was 9.8 percent as customer acquisition numbers fell and VIP retention activity increased.
Overall the company, which also operates sportsbook, online bingo, and casino businesses saw group net revenue up 1.3 percent to £976.6 million and group operating profit up 20.1 percent to £202.3 million in 2010.
The company said in a statement that, “Revenue growth in Sportsbook, Casino and Bingo was partially offset by continued weakness in Poker where the market remains challenging.”
Ladbrokes Poker revenue has been in decline since 2007 when it fell 11.4 percent to £31 million.
In recent weeks Ladbrokes has been linked with merger talks to 888 and Playtech.
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