Ladbrokes Gives Hope To The Bingo Industry In Their First Quarter Financial Figures.

Gaming Giant Ladbrokes have announced that one of the largest growths of its online betting areas was bingo in its financial report for the first four months of this year. It will be interesting see the number that William Hill Bingo report to see if this growth in the bingo industry is a growing trend.

The figures show a massive ten percent growth in the amount of people signing up to their online bingo room. This has resulted in a 5 percent growth in revenues in just 4 months which has helped to steady a downturn in their other gaming divisions.

The financial report wasn’t all good new though, sadly in the first four months of 2010 Ladbrokes have seen a 6 percent drop in net revenue which has resulted in a 3% drop in their profit. This is not good news for the online gaming industry or offline for that matter. One of the biggest shocks was a 11 percent drop in revenue taken over the counter at the Ladbrokes offline betting shops, which might further cement the rumours that offline gambling is starting to really suffer.

The newly appointed chief executive; Richard Glynn said “Although only a few weeks into my role as Chief Executive of Ladbrokes I am hugely enthused by the longer term opportunities available to the company and I am excited at the prospect of revitalising the Ladbrokes brand and re-energising the business.”

It’s nice to see new blood being pumped into the long term gaming giant Ladbrokes and though this first four months aren’t looking too good it looks like Ladbrokes definitely has something up their sleeve.

Brought to you by London Bingo News.

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