Ladbrokes has warned that it is unlikely to see its online business grow in the first half of 2014 as it laid out its strategy for the year, with H1 focused on “delivery” and growth expected to be achieved during the second half of the year.
Adverse sporting results in 2014 so far have already affected the current trading, with group net revenue from January 1st to February 18th down £11m from 2013 earnings.
In the company’s full year results announcement for 2013, the operator said it did not expect to see online revenue improve in the first six months of 2014, predicting that profit would be up sequentially but down year-on-year.
This was blamed on the ongoing transition from existing suppliers to its new software and services partner Playtech. Ladbrokes said the migration would give the company access to a single back office system, the supplier’s Information Management System (IMS) and a single customer wallet, all of which would be delivered in H1.
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