Growth of online bingo revenue for Ladbrokes

Ladbrokes plc owners of Ladbrokes Bingo have reported their results for the year 2008. There was a decline in the amount of revenue from £345.2 million to £250.2 million in 2007 but this was still about £35 million ahead of what city analysts expected.

Ladbrokes products grew as online sign ups increased by 21.5% with about 37,300 new players who signed up in 2008, with a grand total of about 726,000 customers that year. These incredible figures were for casino, bingo, skill games and also sports betting. Moreover, Ladbrokes stated that this growth was possible due to the advertising campaign on television for Ladbrokes Casino and Ladbrokes bingo. The campaign was shot in Liverpool with massive bingo balls rolling through the roads. Moreover, the company’s eGaming also had a rise in its revenue by 20% to £172.2 million. Furthermore, the major areas of growth were the fixed betting terminals that were placed in the shops, while the revenue from horseracing took a hit due to bad weather conditions.

Whatever the analysis the revenue looks good in the current climate and shows that online bingo is going from strength to strength.