Cherry on top down under for Ladbrokes

Cherry on top down under for Ladbrokes

Thursday, September 15, 2016 Posted by Andy McCarron
Paul Cherry is taking the reins at Ladbrokes Australia

Announcing the promotion of Paul Cherry as new CEO of Ladbrokes Australia, the operator’s Oceania division enters a new phase in its business. 

Cherry, Ladbrokes Australia’s current COO, takes over from the departing Dean Shannon who had served as the division's leader since its inception in 2013.

Shannon has played a central figure in Ladbrokes' international expansion strategy. The UK-centric bookmaker entered the Australian market in September 2013 acquiring Shannon’s for approximately AUS $22 million. At the time Ladbrokes governance stated that its acquisition had served as ‘a low cost entry’ into a regulated and burgeoning market, with the bookmaker eyeing early mover advantages on its home based competitors.

Three years into its Australian project, Ladbrokes has recorded cautious/conservative growth, in part due to the country’s restrictive industry laws regarding betting products and marketing. 

The complex and segregated betting regulations largely implemented on state by state basis have made it hard for international betting operators to gain real market traction against Australian legacy giants Tatts and Tabcorp.

However complex though, Australia’s betting industry still represents a luscious pie for UK bookmakers seeking to expand international footprints.

Taking on leadership of Ladbrokes Plc in July 2015, CEO Jim Mullen stated that he would prioritise ‘accelerating Australian revenue growth’. Putting Mullen’s plans into action, Ladbrokes Australia has executed a new intensive marketing plan, while supporting its operations by increasing the division's headcount.

Totally Gaming Says: Central to Ladbrokes Australia’s growth ambitions has been its ability to deliver a best in class ‘localised product’. But the bookmaker may find its strategy restricted by gambling laws attached to live betting, which has divided both bookmakers and regulators. Taking on leadership of Ladbrokes Australia, the pressure will be on Paul Cherry to deliver a betting product and brand that makes his firm stand out from the rest of the ‘international pack’ that are targeting Australian consumers...

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