Online betting boosts profits for Ladbrokes Coral

Now Reading:

Online betting boosts profits for Ladbrokes Coral

Text size Aa Aa

(Reuters) – Betting company Ladbrokes Coral Group <LCL.L> reported a 7 percent rise in first-half operating profits on Thursday which it said was due to strong trading online. The company said operating profit for the six months to June 30 rose to 158.8 million pounds from 147.9 million pounds, a year ago. Revenue for the period rose 1 percent to 1.19 billion pounds, while digital revenue surged 17 percent to 374.5 million pounds. The company was formed last year when Ladbrokes joined forces with Coral in a $3.4 billion merger. Sources said last week that online gambling company GVC <GVC.L> had recently discussed a takeover of the group but talks ended without a deal.

(Reporting by Rahul B in Bengaluru; Editing by Greg Mahlich)
euronews provides breaking news articles from reuters as a service to its readers, but does not edit the articles it publishes. Articles appear on for a limited time.