May 4, 2017
Betting shops a revenue weak spot for Ladbrokes Coral
Revenues at Ladbrokes Coral were boosted by the Cheltenham Festival and online betting, but the company's growth has been dampened by a fall in wagers at its betting shops. The company said that group net revenues had risen 2 per cent on a constant currency basis. Revenues from its online gambling arm grew 18 per cent on a constant currency basis. The bookmaker added that over-the-counter wagers at bits UK betting shops, which still account for the majority of its revenues, fell 2 per cent as the company suffers from the shift of gamblers choosing to bet online rather than in store. The online market remains highly competitive, although recent high profile sporting events seem to indicate that as much emphasis is being placed on customer retention as is being placed on the acquisition of new customers.
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