Poll: Is it time for a radical rethink of the Ladbrokes brand?
Should Lads Coral switch up the brand’s current recreational focus after a 9% decline in revenues?
Ladbrokes Coral reported a mixed bag of third quarter results last week, with one standout figure the 9% decline in Ladbrokes’ revenues.
The Magic Sign brand significantly underperformed the rest of the group, with Coral up 13% and Gala Bingo up 10%.
The firm tried to explain away the problem as a result of the digital platform migration, and the move from a “get them through the door” acquisition strategy to one focused more on player value and retention.
Regardless, the results had some questioning it was time for a radical rethink of the Ladbrokes brand.
Industry consultant and EGR writer 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.”
A change of the Ladbrokes brand might also let LCL target a broader spectrum of customers in the style of Paddy Power Betfair given that Lads and Coral are currently very similar propositions.
But LCL CEO Jim Mullen himself 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.
So this week we want to know your opinion. Is it time for a radical rethink of the Ladbrokes brand?
Have your say below…
POLL: Is it time for a rethink of the Ladbrokes brand? More context here: https://t.co/vBWTfvsvpz
— EGR Global (@EGRIntel) November 20, 2017