Ladbrokes Irish revenues down 9%

Ladbrokes Ireland generated operating profits of £2.5m (€3.5m) in the first half of this year, unchanged from the same period last year.

However, half-year results for the British betting and gaming services giant, yesterday showed that the Irish division — which has just emerged from examinership — saw a year-on-year decline of 9.2% in net revenue, to £33.6m and a near 10% annualised drop in gross profit to £29.8m.

Amounts staked on bets by Irish punters in Ladbrokes shops amounted to £235.9m, down nearly 5% on the first six months of last year and the company’s gross win — or the amount it won from over-the-counter bets here — declined by just over 9% to £34.1m.