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
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 ...