Poll results: Ladbrokes brand in need of major strategy rethink

Nearly three-quarters of EGR readers believe Ladbrokes Coral needs to rethink its Ladbrokes brand strategy to reverse an ongoing dip in revenues.

The operator reported a mixed bag of third quarter results last week, with one standout figure the 9% decline in Ladbrokes’ revenues.

And 74% of poll voters think it is time to reinvent the brand if it is to compete with the major online players in the UK market.

However, 16% of readers agree the Ladbrokes brand is on the right path.

The Magic Sign significantly underperformed the rest of the group in Q3, with Coral up 13% and Gala Bingo up 10%.

Industry consultant Alun Bowden suggested Ladbrokes should attempt to position itself as a home for shrewder customers given its Magic Sign history and unique assets.

“The Betdaq exchange is still an underutilised asset and could provide Ladbrokes with more of a USP as could the much-promised return to basic bookmaking principles,” Bowden said.

“There is also the possibility of Ladbrokes becoming more of an international brand or even a B2B proposition.”

Although LCL chief Jim Mullen has dismissed this kind of talk in recent conversations with EGR, suggesting we may not see any changes to the Ladbrokes brand proposition in the near future.