Revenue in Q3 up 14% for bookie

REVENUES at the Irish operations of gaming group, Ladbrokes, grew by just under 14% on a year-on-year basis in the third quarter.

The British bookmaker — whose profile in Ireland is second only to Paddy Power — yesterday reported group net revenue growth of 2.5% for the third quarter.

In Ireland, where Ladbrokes operates nearly 300 stores (216 in the Republic), the company said that over-the-counter (OTC) amounts staked in the shops grew by 6.6% compared to the same three-month period last year and that a strong OTC gross win margin of 14% (which was up by 1% year-on-year) drove a 13.9% increase in total revenues.