Ladbrokes, One of the top online gambling giant of England has reported a hugh increase in their gross income. Ladbrokes presented their half yearly result at London Stock Exchange saying that it has gained 34.4 percent or it is £52.3 million compared to the same period in 2015. This definitely is helpful for the bookmaker to grow in the market.
Net revenue for the Gaming giant is now more than 12.4% than 2015 and it is £661.8 million in 2016. Company gains a hugh 40.9% in their online version, whereas 7.3% growth recorded in its European betting shops, with another 6.4% growth in their UK retail betting shops.
The chief executive officer of Ladbrokes Mr. Jim Mullen said that we have proved that we can do better than expected. We have 130 years of sports betting experience and that gives us an edge over others, he added.
He also said that despite paying an amount of more than £3 million to people who bet on Leicester city in English premier league, we generated a hugh 14.7% growth rate in this years’ revenue and this is not surprising for us anymore.
After this result shown at London Stock Exchange, the company’s shares rose as high as 146.00p, which was 4.41% up.
Meanwhile the Merger in between Ladbrokes and Gala poker cost approx £12.1 million to Ladbrokes. According to the news £5.6 million were for transaction cost, whereas £6.5 million was of integration planning cost for the company.
Ladbrokes is one of the oldest gaming giant in the UK, which has plenty of sports betting shops across the country and is now going to Merge with another high end gambling company i.e. Gala Coral group.
Another big gaming giant of the region named William Hill was also in news before a few days, because of their Merger with Rank Group and 888.