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- NASA has finally understood the theorical basis of LENR (low-energy nuclear reactions). — [VIDEO]
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Ladbrokes Full Year Results for the year ended 31 December 2009 – Collapse
Revenue from continuing operations decreased by £119.0 million (10.3%) to £1,032.2 million (2008: £1,151.2 million). Excluding High Rollers activity, revenue decreased by £89.2 million (8.5%) to £963.7 million (2008: £1,052.9 million). Profit before finance costs, tax and non-trading items decreased by £95.4 million (28.8%) to £235.4 million (2008: £330.8 million). Excluding High Rollers activity, profit before finance costs, tax and non-trading items decreased by £82.2 million (32.8%) to £168.5 million (2008: £250.7 million) reflecting decreased profits across all channels.
Amounts staked for the OTC business declined 7.2% year on year; with trend in amount staked deteriorating through the year as unemployment has picked up. The company said that in Q4 the amount staked for the OTC business was down 10.4% compared with previous year. OTC gross win for the period declined by 12.4% to £427.4 million with a gross win margin for the year of 15.9%, a full one percentage point lower than 2008. OTC net revenue declined 13.9% to £412.5 million after adjusting for free bets. The average gross win per gaming machine per week was up 0.4% to £685 (2008: £682). During the year there were on average 7,892 terminals versus 8,044 terminals last year. Total machine gross win fell 1.3% during the year to £282.5 million. The proportion of B3 (£1 stake: £500 jackpot) content being played increased to approximately 20% and there was a corresponding uplift in margin by 0.15 percentage points to 3.2%. Total UK Retail net revenue fell by 9.2% over the year to £656.7 million. Operating profit for the year was down 28.4% at £134.5 million. In the company’s Irish betting shops like for like OTC amounts staked at constant currency declined 8.6%, with overall gross win in down 5.7% at £86.3 million. Online betting reported a 6.7% decline in revenue to £160.7 million, with the company’s sportsbook recording a gross win margin of 6.5%, 1.3 percentage points below 2008 and a fall in net revenue of 9.7% to £55.7 million. Online Casino net revenue fell 2.1% to £52.0 million. Online Poker net revenue fell 18.3% during 2009 to £23.7 million, with active players falling 6.2% and player yields falling 12.1% during the year. Games net revenue of £17.0 million was down 3.4%, whilst Bingo net revenues grew 13.9% to £12.3. Total operating profit for online betting came in at £46.1 million down 16.3%. The Core Telephone Betting business (excluding High Rollers) saw net revenue down 42.5% at £15.7 million with a gross win margin of just 5.4% compared with 7.6% in 2008. Unique active customers fell 11.2% to 96,300 (2008: 108,400), with average monthly active player days down by 11.9% and call volumes down by 9.5%.