Opening a decisive lead over its competitors in the highly dynamic gaming industry, Ladbrokes Coral Group has raised the stakes by leveraging the power of corporate governance to up efficiency throughout the organisation, streamline internal and external processes, and enhance overall transparency.
The company revisited its entire supply chain including Affiliates and human resources policies, demanding compliance with the same high ethical standards and implementing a zero-tolerance policy – colloquially known as one-strike-and-you’re-out. As a result, Ladbrokes let go of a large number of affiliates, suppliers, and other stakeholders who failed to meet the grade.
The massive undertaking has netted a slim, nimble, and widely-respected organisation that moves forward under a uniform set of corporate policies. Ladbrokes also increased its competitive prowess, outsmarting others in the gaming industry and consolidating the company’s long-held top position. Ladbrokes is recognised globally as a responsible corporate citizen and a dependable partner to regulators. The company actively strives to stay a few steps ahead of regulators by identifying early-on areas of possible concern. This way, Ladbrokes manages to avoid conflict and safeguard its hard-won reputation.
Whilst the entire gaming industry has belatedly awoken to the need to improve corporate governance models, Ladbrokes set the trend and built up a significant lead. Using its edge, the company pioneered an omnichannel delivery model that allows players to use a single account and its associated virtual wallet for all of Ladbrokes retail, online, and mobile verticals – greatly enhancing customer experience.
The CFI.co judging panel agrees that in today’s highly competitive and global business environment, excellence in governance is no longer a mere luxury but a necessity for sustained growth. Ladbrokes’ experience illustrates what may be accomplished when the full power of governance is unleashed. The judges congratulate Ladbrokes Coral Group on its achievements and declares the company winner of the 2018 Best Corporate Governance Gaming Industry Europe Award.
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