UK bookmaker Ladbrokes has reported a 74 per cent drop in operating profit from its digital operations in 2013, with digital revenue falling by 2 per cent to £175.0m.

Ladbrokes said the decline in revenue and profit reflected the company’s process of transition to Playtech products, and the lack of a competitive customer offering for most of 2013.

The company’s digital operations benefited from the acquisitions of Betdaq and the Australian businesses (Bookmaker.com.au and sports affiliate network Panda Gaming), which generated a combined £13.7m in net revenue during the year...

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