During the first fourth months of 2006, profit before tax increased by 5% and total gross win rose by 11%, pushed by favourable horseracing results at the Cheltenham Festival, continuing growth in eGaming and an improvement in Telephone Betting.
In eGaming, gross win increased by 26%, with a 32% rise in operating costs driven by planned customer recruitment campaigns around major sporting events and in anticipation of the World Cup.
Total gross win in Telephone Betting rose by 43% (up 4% excluding high rollers), with total operating cost growth of just 1%.
“We have had a positive start to the year and are trading in line with our expectations. As we approach the busiest part of the sporting year, with the Epsom Derby meeting, the World Cup in Germany and Royal Ascot to look forward to, I am confident about the prospects for the business,” commented Ladbrokes CEO Christopher Bell.
In separate news, Ladbrokes has announced deals with Yahoo and AOL to provide sports betting for the World Cup. The UK bookmaker has also recently launched a mobile Java sportsbook in conjunction with mobile games developer Mfuse. Charles Palmer, co-founder of Mfuse, said: “It is an advanced product and is fast and simple to use. It will enable fans to place in-running bets, at the pub, in front of the TV or for the lucky few at the Olympic Stadium in Berlin.”
Inspired Gaming Group has formally announced its intention to seek admission to the Alternative Investment Market having raised £108m by a placing of shares underwritten by Evolution Securities. The company is the leading provider in the UK of Server Based Gaming with a customer base including pubs, bars, casinos, bingo halls, betting shops as well as major gaming companies such as William Hill and Gala Group. Inspired is also the leading provider of Fixed Odds Betting Terminals, itbox skill gaming terminals and other SBG variants. Dealing in ordinary shares on AIM will commence on June 2.
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