Despite the recent modification in taxes that saw it double on retail turnovers, Ladbrokes managed to increase its net gaming revenue by 1% in Ireland.
Ireland.- Ladbrokes has reported its financial results for the first six months of the year. Despite an increase in taxes in Ireland, the British bookmaker managed to generate a 1% rise in net gaming revenue during the six-month period.
GVC Holdings, owner of Ladbrokes Coral, has revealed that group revenue rose 62% to over €1.94 billion in H1. While the Irish segment was the weakest performer in H1, it still managed to report a 1% increase. The results did not manage to offset UK’s 10% and Belgium’s 12% growth.
Ladbrokes currently operates 139 betting shops in Ireland. It said that a gross win margin slight increase happened because of softer margins in greyhounds and horseracing in Ireland.
GVC confirms senior team changes
GVC Holdings has announced that it will implement changes to its senior team in order to change its operational structure. As part of that change, the deputy chief operating officer Valery Gelfman will monitor GVC’s senior product team.
Shay Segev, GVC’s chief operating officer, explained that the restructure of the senior team fine-tunes the company’s operational structure to ensure they are okay for the future and able to continue the delivery of their future growth plans in the most efficient manner. “We have a great team in place and I am excited about our future prospects,” Segev said.
GVC’s chief product officer (CPO) Liron Snir will remain in his position, but will also shift his role to provide strategy guidance for the product, projects and new partnerships. He will work closely with Nick Batram to support corporate development with new initiatives.