Ladbrokes Follows Competition to Gibraltar to Save Money
Ladbrokes, at the end of the year will take its operations to Gibraltar in order to cut costs. It is projected the move will save around £7 million per year.
The call centre, for customer enquiries and help, will still be based in the UK.
The move comes after the company announced 3.9% drop in profits over a 6 month period. The company is also selling its Italian restaurant business which will release around £50 million.
With the pairing down on its business, Ladbrokes enjoyed news of eGaming sign ups hitting 12,500 extra. This takes the tally up to 249,000 and will help bolster the new regime.
Ladbrokes will also be launching their new website at the tail end of 2009. This looks like a fresh start for 2010, which will put the gloomy year behind them.
Being one of the most successful sportsbooks online, Ladbrokes.com offers their services in 17 different languages and 18 different currencies. This level of diversity helps bring together players from all over Europe and the world.
They boast 725,000 active customers, which prop up the books with £172.2 million in revenue and £55 million in profits. This cost cutting exercise will keep Ladbrokes competitive and of course, more profitable. Some staff are being redeployed in an attempt to further reduce costs by heading to the offshore location.
The call centre will introduce new technology which will see a drop in costs per telephone call.