The UK bookmaker announced a trading update for the ten months ended 31 October 2006, which saw an 8% increase in total gross win, with underlying profit up 5%. No actual figures were issued. In eGaming, gross win increased by 17%, with a 10% rise in operating costs in the four months since June 30, compared to 27% in the first six months reflecting the investment in customer recruitment campaigns around the World Cup.
European Retail gross win increased by 5%, with an increase in like for like costs of 4%. Total gross win in Telephone Betting rose by 47%, with growth of 10% excluding high rollers and an increase in total operating costs of 8%.
CEO Christopher Bell said: “While a number of football and racing results went against us in October, early trading in November has been in line with expectations. Ladbrokes continues to focus upon International expansion and growing its eGaming business, while continuing to prepare itself for future opportunities in UK and Irish shop estates.”
Bell also said that telephone and internet betting licenses in Italy were “only a matter of process” and added that the company was looking with interest at the legislation developments in Spain.
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