Ladbrokes suffered €4.5m in losses during Covid-19 pandemic

Irish betting agent’s parent company Entain recently warned that consumer slowdown could negatively impact growth in near future

Lockdown measures meant that revenue at the betting agent was halved in 2020. Picture: Getty

The Covid-19 pandemic caused a dramatic drop out of profitability for the Irish arm of Ladbrokes, which reported losses of almost €4.5 million for the 2020 financial year.

The betting giant said in company documents this week that revenues dropped sharply from €45 million in 2019 to €24 million in 2020, primarily due to shop closures during successive pandemic lockdowns.

Both sales costs and operating costs at Ladbroke (Ireland) Limited declined during this period, coming ...