Ladbrokes Poker on a downswing
Friday, 19 October 2012
Ladbrokes poker continued its downward spiral yesterday after posting their most recent financial figures. According to their latest report, the well-known bookmaker has suffered another 25% decrease in online poker revenues over the third quarter.
The drop is yet another worrying sign for the company who experienced a 24.3% drop in revenue to £5.6 million in August. Hosted on the Microgaming Network, the site does still benefit from a decent sized playerpool. Indeed, over the last six months the network has experienced a growth in players and is currently close to the highest amount it’s been during that period.
However, despite the liquidity of their network provider, Ladbrokes has continued to struggle with their poker axis. The fortunes of the company aren’t all bad though as their sportsbook has remained buoyant, however, they’ve been unable to convert much of the casual gambling traffic which passes through their site.
The forthcoming re-launch of Full Tilt will no doubt make the poker climate even tougher for sites across the industry.