Ladbrokes Coral’s digital ops outshining retail in H1

UK-listed gambling operator Ladbrokes Coral’s first half of 2017 featured a strong online performance while retail operations lagged.

In a trading update released on Thursday, Lads Coral said it remained on track to meet its full-year 2017 expectations. Group revenue over the six months to June 30 was up only 1% from H1 2016 but operating profit is expected to come in between £153.3m to £153.8m, up 4% to 7% over the same period last year.

Digital net revenue gained 21% year-on-year (14% in constant currency terms), thanks largely to sports betting, which saw revenue and stakes rise 25% and 23%, respectively, despite H1 2016 benefiting from the bulk of the Euro 2016 football tournament.

Digital gaming revenue was up 11% year-on-year. This week saw Ladbrokes relaunch its Playtech-powered Live Casino, which features a new studio design and enhanced functionality, including a video messaging system that offers players greater interaction direct from the table.