Ladbrokes’ Online Poker Struggles Continue

by Mario Alfonsi  |  Published on Feb 16, 2012  |  Updated on Feb 16, 2012

Ladbrokes may be one of the biggest names in British gambling, but they’ve struggled to find success in the world of online poker. According to the company, Ladbrokes Poker saw its poker revenue fall 24.5% in 2011, bringing in just £14.2 million for the year.That’s down from £18.8 million in 2010, which was already down a significant 21% from 2009. The number of active players on the site also fell significantly, dropping 16.2% year over year.“Poker continues to be challenging,” Ladbrokes said in their annual earnings report, “although the rate of decline slowed significantly in H2. Whilst poker has to date not been a strategic area of focus, we will be working increasingly to address performance.”The gambling giant wasn’t always an afterthought in the online poker world. Ladbrokes formerly sponsored the Poker Million, which at one point was one of the largest poker tournaments in the world. It was one of the earliest land-based gambling entities that made the transition to online poker, but the lack of focus and strategic partners in the poker world has allowed the company to fall behind.However, there are plans for the company to become a bigger factor in the online poker world. During the first half of 2012, Ladbrokes has already announced plans to launch a mobile poker app that will allow players to participate in their poker games from mobile phones. Ladbrokes has also made some efforts to find partners for mergers or expansion, though none of these efforts have yet borne fruit.Overall, Ladbrokes had a mediocre year in 2011. The company’s overall revenue rose by 0.4% to £983 million, while profits fell by 0.4% to £193.5 million. Ladbrokes is the world’s largest retail bookmaker, owning over 2,400 retail shops in the United Kingdom and Ireland, as well as many in Spain and Belgium. In the online world, Ladbrokes not only operates Ladbrokes Poker (which is part of the Microgaming Network), but also operates online casino, bingo, and sportsbook sites.