TV ads help Ladbrokes to strong performance

Ladbrokes, the bookmakers, has attributed a “strong” full year performance to its TV advertising (pictured) and the growth of its e-gaming division. The company reported a 60% increase in revenue to £420m for the full year to December 31, 2007.

It says that it is planning to build on the success of e-gaming with a new game launches on Sportsbook, its specialist sports arm of its e-gambling sites.

The company’s chief executive, Christopher Bell, says: “Following a strong finish to 2007, we have made a positive start to the year.”

The company adds that profits were also up because of big-spending telephone gamblers losing money. Gross winnings, which is the amount lost by gamblers, rose by 30% to £1.29bn last year.

Ladbrokes says Sportsbook contributed to growth in its e-gaming unit and it plans to further growth to £90m by 2010 by increasing partnerships. It is also looking to new markets for expansion as growth slows in its UK betting shops.

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