With a new CEO on board and a rapidly changing industry landscape, betting giant Ladbrokes has stated its intent to regain its place as a major player.
According to an article in the Wall Street Journal the high street icon brand is set to embark on a major overhaul that will shift focus from its 'bricks and mortar' smoke filled betting shops to online betting.
While Ladbrokes have been in the online space for some time now, they have lost ground to emerging pure-play operators as well as a resurgent William Hill, whose tie-up with savvy Playtech a couple of years ago has seen them become an online industry leader. The merger of Bwin and Party Gaming, and the potential for a future open US market has only catalyzed the need for fast change.
CEO Richard Glynn has called it 'Project Galvanize' and last week it swung into action with a raft of senior management changes, including the departure of the head of online gaming and a new digital operations chief.
A key focus of the overhaul will be to provide a superior 'in-play' betting product. In play bets offer punters the ability to bet on events within games - requiring rapid updates to odds and bet lines by the minute.
The company will also keep an eye out for acquisition opportunities.
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