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Online betting boosts profits for Ladbrokes Coral
August 31, 2017 / 6:32 AM / 3 months ago

Online betting boosts profits for Ladbrokes Coral

Aug 31 (Reuters) - British betting company Ladbrokes Coral Group 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 ($205.1 million) 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 had recently discussed a takeover of the group but talks ended without a deal. ($1 = 0.7743 pounds) (Reporting by Rahul B in Bengaluru; Editing by Greg Mahlich)

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