Ladbrokes Poker Down 15 Percent in First Half 2010Revenue Continues to Fall At Ladbrokes Poker as Market Remains “Challenging" |
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Net revenue at Ladbrokes Poker fell 15.7 percent in the first half of 2010 to £10.7 million from £12.7 million in the first six months of 2009.
The company said in its half-year interim statement that active customers were down 30 percent in the same period compared to a year earlier noting that, “this is against a comparative period which saw significant customer reactivation and incentivisation accompanying the migration to the Microgaming network.”
Customer yield was up 20 percent as a result of lower customer numbers helped by an increased focus on VIP retention but the company re-iterated that the European poker market remaining challenging
Overall net revenue at the UK’s largest bookmaker, which also operates sportsbook, casino, bingo, and skill games, was up 1.2 percent to £85.6 million in the first half of 2009 while operating profit jumped 39.9 percent to £29.1 million, partly on the back of good gross win margins during the World Cup.
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