Ladbrokes, the online betting and gaming company recently announced that the full year operating profit for its digital division is expected to be below market expectations.
Richard Glynn, the Chief Executive Officer of the UK gambling group, revealed that the company’s biggest growth opportunities will come from the UK’s digital market. These comments were made by him soon after Ladbroke’s interim statement was released.
According to Glynn, Ladbrokes remains committed to bringing its brand to new markets and that the next six months will see it being all about delivery which will allow them to take advantage of the many opportunities that are still there.
Meanwhile, Ladbrokes is continuing to integrate with Playtech, one of the leading software and games suppliers, as it anticipates improving its digital division operating profits although Glynn admitted that operational progress had not translated into satisfactory results.
Ladbrokes is, however, relying on Ladbrokes Israel, its new digital marketing subsidiary, to drive revenue growth and marketing improvements over the medium term. The company is hoping that improved marketing efforts will offset the negative effects that they are expecting from the United Kingdom’s new 15% consumption tax.
Richard Glynn also revealed that Ladbrokes intends expanding in the Nordic markets and in Spain where they intend developing its joint venture with locally based Cirsa in order to launch a sports betting and gaming site to complement their existing retail offering.
Ladbroke also wishes to launch its Spanish facing Sportium brand into the Mexican gambling market and endeavor to move into other Latin American markets before the Brazilian World Cup.