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Latest Irish online casino news and Ladbrokes

By admin on 2015-04-24 09:45:02

Once again the focus of our Irish casino news report here at onlinecasino.ie is Ladbrokes. Most people will realise that Ladbrokes have a huge high street presence in Ireland, and many online casino games players will also have visited their online casino site at some time even if they don’t use it regularly. Over recent years however Ladbrokes have struggled to come to terms with the march of technology within the gambling sector and have fallen well behind their rivals. This week it fell to new chef executive Jim Mullen to announce a first quarter fall in operating profits from £18.4 million to £14.3 million to the end of March, in spite of a 3.3% rise in net revenues. Clearly it is not the fault of Jim Mullen, who only took over the role from Richard Glynn at the beginning of the month, and these results were not helped by the new point of consumption tax which applies to their online casino and online sports betting revenues. Nevertheless Mr Mullen clearly has wasted no time in announcing his determination to turn around the fortunes of the company with what may be a painful restructuring exercise for their loss making Irish retail operations. As we have commented before in these pages there is no doubt that the rise of online casino and online sports gambling has had an impact on all the high street betting shops, and the Ladbrokes chain is clearly no exception. Some analysts now believe that the proposed restructuring may well result in the closure of as many as 60 of their current 196 betting shops, bad news for up to 250 current employees. It is also clear that changes to how Ladbrokes operate as a company will not be limited to the Irish betting shops, and a full review of the whole business has now been brought forward.